ConocoPhillips (NYSE:COP) Shares Acquired by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 16.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,063 shares of the energy producer’s stock after purchasing an additional 294 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in ConocoPhillips were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Richardson Capital Management LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Ruedi Wealth Management Inc. grew its stake in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the second quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays cut their price objective on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Truist Financial cut their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.94.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP opened at $104.60 on Wednesday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $108.84 and its 200 day simple moving average is $114.28. The firm has a market cap of $121.47 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the business posted $1.84 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

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.