Avidian Wealth Solutions LLC Has $1.12 Million Stock Position in ConocoPhillips (NYSE:COP)

Avidian Wealth Solutions LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,664 shares of the energy producer’s stock after selling 211 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in ConocoPhillips were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC boosted its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group grew its holdings in ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $40,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of ConocoPhillips in the third quarter worth $46,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COP. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial dropped their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Susquehanna lifted their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Raymond James dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.76.

Insider Activity

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dominic E. Macklon sold 23,372 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $112.17, for a total transaction of $2,621,637.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP traded down $0.02 on Friday, reaching $122.23. The company’s stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The firm has a market cap of $143.79 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The company has a current ratio of 1.35, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $95.81 and a 52 week high of $135.18. The business has a 50-day moving average price of $123.85 and a 200 day moving average price of $117.61.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. During the same period in the prior year, the company posted $2.71 EPS. Sell-side analysts expect that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. ConocoPhillips’s payout ratio is presently 26.27%.

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.