Weaver Consulting Group Boosts Holdings in ConocoPhillips (NYSE:COP)

Weaver Consulting Group lifted its position in shares of ConocoPhillips (NYSE:COP) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,216 shares of the energy producer’s stock after purchasing an additional 138 shares during the period. Weaver Consulting Group’s holdings in ConocoPhillips were worth $319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in ConocoPhillips by 3,135.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 117,903 shares of the energy producer’s stock worth $135,000 after purchasing an additional 114,259 shares during the last quarter. Acadian Asset Management LLC raised its holdings in ConocoPhillips by 5,787.6% in the second quarter. Acadian Asset Management LLC now owns 24,728 shares of the energy producer’s stock valued at $2,827,000 after acquiring an additional 24,308 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in ConocoPhillips by 20.3% in the second quarter. Ashton Thomas Private Wealth LLC now owns 12,078 shares of the energy producer’s stock valued at $1,382,000 after acquiring an additional 2,036 shares in the last quarter. Choreo LLC grew its holdings in ConocoPhillips by 221.9% during the 2nd quarter. Choreo LLC now owns 46,270 shares of the energy producer’s stock worth $5,292,000 after acquiring an additional 31,898 shares in the last quarter. Finally, LGT Fund Management Co Ltd. increased its position in shares of ConocoPhillips by 317.2% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 51,560 shares of the energy producer’s stock worth $5,897,000 after purchasing an additional 39,202 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $101.56 on Wednesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a market cap of $116.89 billion, a PE ratio of 12.08, a P/E/G ratio of 0.83 and a beta of 1.19. The stock has a 50 day simple moving average of $104.70 and a 200-day simple moving average of $107.97. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.53% and a net margin of 17.29%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. On average, equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.07%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research firms recently commented on COP. Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley assumed coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $136.71.

ConocoPhillips 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.