Kingsview Wealth Management LLC Buys 3,402 Shares of ConocoPhillips (NYSE:COP)

Kingsview Wealth Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 14.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 27,013 shares of the energy producer’s stock after acquiring an additional 3,402 shares during the period. Kingsview Wealth Management LLC’s holdings in ConocoPhillips were worth $2,679,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $26,000. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares in the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth about $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $98.34 on Monday. The company has a market cap of $113.18 billion, a PE ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company’s 50-day moving average is $101.05 and its two-hundred day moving average is $106.15.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.17%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on COP. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company decreased their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $135.89.

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.