8,366 Shares in ConocoPhillips (NYSE:COP) Acquired by Unique Wealth Strategies LLC

Unique Wealth Strategies LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,366 shares of the energy producer’s stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Alphinity Investment Management Pty Ltd acquired a new position in ConocoPhillips in the third quarter valued at $310,102,000. Capital Wealth Planning LLC lifted its position in ConocoPhillips by 45,426.8% during the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after acquiring an additional 1,425,946 shares during the period. Bank of New York Mellon Corp raised its stake in shares of ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after purchasing an additional 1,152,907 shares during the last quarter. International Assets Investment Management LLC grew its position in ConocoPhillips by 13,905.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after buying an additional 1,106,305 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $99,676,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Mizuho reiterated a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Piper Sandler raised their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley raised their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Trading Up 0.1 %

Shares of ConocoPhillips stock traded up $0.13 during mid-day trading on Friday, hitting $130.24. 4,823,139 shares of the stock were exchanged, compared to its average volume of 3,808,210. The company has a 50-day simple moving average of $122.49 and a 200 day simple moving average of $117.64. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $153.22 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the previous year, the company earned $2.71 EPS. Research analysts forecast that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.40%. ConocoPhillips’s dividend payout ratio is 25.61%.

Insiders Place Their Bets

In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

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.