9,663 Shares in ConocoPhillips (NYSE:COP) Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,663 shares of the energy producer’s stock, valued at approximately $1,122,000.

A number of other institutional investors also recently bought and sold shares of COP. Orion Capital Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC lifted its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Sachetta LLC purchased a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. lifted its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Scotiabank boosted their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Truist Financial boosted their target price on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Wells Fargo & Company boosted their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $144.35.

ConocoPhillips Price Performance

Shares of COP stock remained flat at $113.30 during trading hours on Tuesday. The stock had a trading volume of 623,604 shares, compared to its average volume of 5,435,908. The firm has a market cap of $132.51 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.51 and a beta of 1.23. The business’s 50-day simple moving average is $123.60 and its 200 day simple moving average is $117.74. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, analysts predict that ConocoPhillips will post 8.93 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders sold 664,350 shares of company stock valued at $83,537,680 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.