GC Wealth Management RIA LLC Sells 733 Shares of ConocoPhillips (NYSE:COP)

GC Wealth Management RIA LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,573 shares of the energy producer’s stock after selling 733 shares during the period. GC Wealth Management RIA LLC’s holdings in ConocoPhillips were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of COP. Albion Financial Group UT boosted its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the 4th quarter worth $27,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth $31,000. Global Wealth Strategies & Associates increased its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.2 %

COP opened at $92.60 on Tuesday. The firm has a market cap of $117.82 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $99.44 and a 200 day moving average of $104.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COP. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Barclays cut their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

Insiders Place Their Bets

In other news, Director Arjun N. Murti acquired 2,500 shares of the firm’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 completion of the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was 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 insiders.

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.