Diversify Wealth Management LLC Buys 15,048 Shares of ConocoPhillips $COP

Diversify Wealth Management LLC boosted its stake in ConocoPhillips (NYSE:COP) by 316.1% during the 1st quarter, Holdings Channel reports. The firm owned 19,808 shares of the energy producer’s stock after buying an additional 15,048 shares during the quarter. Diversify Wealth Management LLC’s holdings in ConocoPhillips were worth $2,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors grew its position in shares of ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of ConocoPhillips by 229.2% in the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after buying an additional 2,503,156 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in ConocoPhillips during the third quarter valued at approximately $135,265,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in ConocoPhillips during the fourth quarter valued at approximately $128,470,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 3.4%

Shares of NYSE COP opened at $112.75 on Tuesday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The business’s 50 day moving average is $113.88 and its two-hundred day moving average is $112.93. The stock has a market capitalization of $137.36 billion, a P/E ratio of 19.14, a PEG ratio of 1.31 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. As a group, research analysts expect that ConocoPhillips will post 9.28 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a report on Monday, June 22nd. Truist Financial decreased their price objective on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Morgan Stanley lowered their target price on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Capital One Financial reduced their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.