ConocoPhillips (NYSE:COP) Shares Acquired by HCR Wealth Advisors

HCR Wealth Advisors lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,734 shares of the energy producer’s stock after buying an additional 4,605 shares during the period. ConocoPhillips makes up approximately 0.6% of HCR Wealth Advisors’ holdings, making the stock its 25th largest position. HCR Wealth Advisors’ holdings in ConocoPhillips were worth $4,032,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. WealthPlan Investment Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter worth $441,000. Bahl & Gaynor Inc. raised its stake in shares of ConocoPhillips by 27.8% in the 3rd quarter. Bahl & Gaynor Inc. now owns 3,649 shares of the energy producer’s stock worth $437,000 after buying an additional 794 shares in the last quarter. LSV Asset Management boosted its position in shares of ConocoPhillips by 167.2% in the 3rd quarter. LSV Asset Management now owns 419,410 shares of the energy producer’s stock valued at $50,245,000 after purchasing an additional 262,450 shares during the period. NBC Securities Inc. acquired a new position in ConocoPhillips during the third quarter valued at $1,423,000. Finally, Pinnacle Financial Partners Inc increased its stake in shares of ConocoPhillips by 3.1% in the third quarter. Pinnacle Financial Partners Inc now owns 19,165 shares of the energy producer’s stock worth $2,296,000 after acquiring an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Scotiabank upped their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Truist Financial lowered their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, Mizuho lifted their target price on ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.24.

Insiders Place Their Bets

In other news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 664,350 shares of company stock valued at $83,537,680. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.40 during trading on Friday, hitting $117.25. The stock had a trading volume of 2,851,101 shares, compared to its average volume of 5,260,977. The stock has a market cap of $137.13 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The stock’s 50 day moving average is $125.98 and its two-hundred day moving average is $117.74. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $98.38 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, analysts predict that ConocoPhillips will post 9.09 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

ConocoPhillips Company 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.