Ibex Wealth Advisors Buys Shares of 2,072 ConocoPhillips (NYSE:COP)

Ibex Wealth Advisors purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,072 shares of the energy producer’s stock, valued at approximately $205,000.

Other large investors have also modified their holdings of the company. State Street Corp grew its position in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. Geode Capital Management LLC grew its holdings in ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after buying an additional 924,289 shares in the last quarter. Franklin Resources Inc. increased its position in ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC raised its stake in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, 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, for a total transaction of $1,017,120.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COP shares. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Raymond James raised their price objective on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Price Performance

NYSE COP opened at $101.49 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a market cap of $116.81 billion, a PE ratio of 12.07, a PEG ratio of 0.86 and a beta of 1.19. The stock’s 50-day moving average price is $102.53 and its two-hundred day moving average price is $106.90.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 7.65 EPS for the current year.

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.