ConocoPhillips (NYSE:COP) Shares Purchased by Heritage Wealth Advisors

Heritage Wealth Advisors raised its position in shares of ConocoPhillips (NYSE:COP) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 419,959 shares of the energy producer’s stock after purchasing an additional 21,380 shares during the quarter. ConocoPhillips accounts for 2.1% of Heritage Wealth Advisors’ portfolio, making the stock its 21st largest position. Heritage Wealth Advisors’ holdings in ConocoPhillips were worth $41,647,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% during 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 last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the fourth quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COP. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. 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. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $102.44 on Wednesday. The company’s 50-day moving average is $99.12 and its two-hundred day moving average is $103.31. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a market cap of $130.34 billion, a PE ratio of 13.15, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.