ProVise Management Group LLC Increases Position in ConocoPhillips (NYSE:COP)

ProVise Management Group LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 79,335 shares of the energy producer’s stock after purchasing an additional 2,004 shares during the quarter. ProVise Management Group LLC’s holdings in ConocoPhillips were worth $7,868,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Claro Advisors LLC increased its stake in shares of ConocoPhillips by 23.5% in the 3rd quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock valued at $444,000 after purchasing an additional 803 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its stake in shares of ConocoPhillips by 6.3% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 4,328 shares of the energy producer’s stock valued at $456,000 after purchasing an additional 255 shares in the last quarter. OneAscent Wealth Management LLC increased its stake in shares of ConocoPhillips by 22.7% in the 3rd quarter. OneAscent Wealth Management LLC now owns 3,694 shares of the energy producer’s stock valued at $389,000 after purchasing an additional 683 shares in the last quarter. Aviance Capital Partners LLC increased its stake in shares of ConocoPhillips by 7.8% in the 3rd quarter. Aviance Capital Partners LLC now owns 22,734 shares of the energy producer’s stock valued at $2,393,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Smead Capital Management Inc. increased its stake in shares of ConocoPhillips by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,196,884 shares of the energy producer’s stock valued at $231,288,000 after purchasing an additional 74,045 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.2 %

COP opened at $100.51 on Wednesday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The stock has a market capitalization of $127.88 billion, a PE ratio of 12.90, a P/E/G ratio of 0.79 and a beta of 1.12. The business’s 50 day moving average price is $99.19 and its 200 day moving average price is $103.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Barclays cut their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, UBS Group cut their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

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.