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

ProVise Management Group LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,335 shares of the energy producer’s stock after buying 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.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COP shares. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. UBS Group dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Up 1.2 %

ConocoPhillips stock opened at $100.51 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $127.88 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The business has a fifty day moving average price of $99.19 and a 200-day moving average price of $103.56.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.