Premier Path Wealth Partners LLC Increases Stake in ConocoPhillips (NYSE:COP)

Premier Path Wealth Partners LLC increased its position in ConocoPhillips (NYSE:COP) by 33.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,774 shares of the energy producer’s stock after purchasing an additional 1,200 shares during the period. Premier Path Wealth Partners LLC’s holdings in ConocoPhillips were worth $473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanibel Captiva Trust Company Inc. raised its stake in shares of ConocoPhillips by 40.4% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 47,065 shares of the energy producer’s stock worth $4,667,000 after purchasing an additional 13,553 shares during the last quarter. Howard Financial Services LTD. increased its holdings in ConocoPhillips by 25.7% in the 4th quarter. Howard Financial Services LTD. now owns 4,163 shares of the energy producer’s stock worth $413,000 after buying an additional 850 shares in the last quarter. Alhambra Investment Management LLC raised its position in ConocoPhillips by 38.9% in the 4th quarter. Alhambra Investment Management LLC now owns 2,815 shares of the energy producer’s stock worth $279,000 after buying an additional 788 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in ConocoPhillips by 50.7% during the 4th quarter. Arkadios Wealth Advisors now owns 22,257 shares of the energy producer’s stock valued at $2,207,000 after acquiring an additional 7,491 shares during the period. Finally, Spring Capital Management LLC boosted its holdings in shares of ConocoPhillips by 11.6% during the 4th quarter. Spring Capital Management LLC now owns 2,066 shares of the energy producer’s stock valued at $205,000 after acquiring an additional 214 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling

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

ConocoPhillips Trading Up 0.1 %

Shares of ConocoPhillips stock opened at $105.76 on Friday. 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 company has a fifty day moving average of $103.79 and a 200 day moving average of $107.47. The company has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the business posted $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COP shares. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday. They set a “buy” rating and a $125.00 price objective on the stock. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Scotiabank dropped their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $136.00.

About ConocoPhillips

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.