Jeppson Wealth Management LLC Purchases 1,130 Shares of ConocoPhillips (NYSE:COP)

Jeppson Wealth Management LLC raised its position in ConocoPhillips (NYSE:COP) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,501 shares of the energy producer’s stock after buying an additional 1,130 shares during the quarter. Jeppson Wealth Management LLC’s holdings in ConocoPhillips were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. AXA S.A. lifted its stake in ConocoPhillips by 7.1% during the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after purchasing an additional 2,116 shares during the last quarter. Ascent Group LLC lifted its position in shares of ConocoPhillips by 7.5% during the 2nd quarter. Ascent Group LLC now owns 19,623 shares of the energy producer’s stock worth $2,244,000 after buying an additional 1,367 shares during the last quarter. Creative Planning boosted its stake in ConocoPhillips by 7.3% in the second quarter. Creative Planning now owns 244,225 shares of the energy producer’s stock valued at $27,934,000 after buying an additional 16,612 shares in the last quarter. Magnolia Capital Advisors LLC grew its position in ConocoPhillips by 193.0% in the second quarter. Magnolia Capital Advisors LLC now owns 16,626 shares of the energy producer’s stock valued at $1,902,000 after acquiring an additional 10,951 shares during the last quarter. Finally, Silver Lake Advisory LLC acquired a new position in ConocoPhillips during the second quarter worth about $337,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.9 %

Shares of COP stock opened at $102.73 on Tuesday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a 50 day simple moving average of $102.98 and a two-hundred day simple moving average of $107.06. The company has a market cap of $118.23 billion, a P/E ratio of 12.21, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 EPS. Research analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.04%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COP. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Raymond James upped their target price on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.