Laurel Wealth Advisors LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

Laurel Wealth Advisors LLC grew its holdings in ConocoPhillips (NYSE:COP) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,527 shares of the energy producer’s stock after buying an additional 766 shares during the period. Laurel Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cornerstone Advisory LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth about $229,000. Rafferty Asset Management LLC boosted its stake in shares of ConocoPhillips by 49.6% during the 4th quarter. Rafferty Asset Management LLC now owns 371,113 shares of the energy producer’s stock worth $43,075,000 after purchasing an additional 123,088 shares during the period. CIBC Asset Management Inc boosted its stake in shares of ConocoPhillips by 9.5% during the 4th quarter. CIBC Asset Management Inc now owns 259,864 shares of the energy producer’s stock worth $30,162,000 after purchasing an additional 22,538 shares during the period. NEOS Investment Management LLC boosted its stake in shares of ConocoPhillips by 33.2% during the 4th quarter. NEOS Investment Management LLC now owns 16,912 shares of the energy producer’s stock worth $1,963,000 after purchasing an additional 4,212 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in shares of ConocoPhillips by 24.2% during the 4th quarter. CWA Asset Management Group LLC now owns 2,638 shares of the energy producer’s stock worth $306,000 after purchasing an additional 514 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $0.13 during mid-day trading on Friday, reaching $130.24. 4,823,139 shares of the company traded hands, compared to its average volume of 3,808,210. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company 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. The firm’s fifty day moving average is $122.49 and its two-hundred day moving average is $117.64.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the business posted $2.71 EPS. On average, equities research analysts expect that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Raymond James lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. UBS Group boosted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Barclays assumed coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 transaction of $5,574,064.00. Following the sale, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following 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. Insiders have sold 700,775 shares of company stock worth $87,615,169 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips 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.