CreativeOne Wealth LLC Buys 1,157 Shares of ConocoPhillips (NYSE:COP)

CreativeOne Wealth LLC raised its position in shares of ConocoPhillips (NYSE:COP – Get Rating) by 13.2% during the third quarter, HoldingsChannel reports. The firm owned 9,919 shares of the energy producer’s stock after purchasing an additional 1,157 shares during the period. CreativeOne Wealth LLC’s holdings in ConocoPhillips were worth $1,015,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oak Harbor Wealth Partners LLC lifted its position in ConocoPhillips by 2.9% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 2,619 shares of the energy producer’s stock worth $268,000 after buying an additional 75 shares during the last quarter. First National Trust Co raised its stake in shares of ConocoPhillips by 2.5% during the third quarter. First National Trust Co now owns 3,345 shares of the energy producer’s stock worth $342,000 after acquiring an additional 80 shares in the last quarter. Denver Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 3.2% in the 3rd quarter. Denver Wealth Management Inc. now owns 2,548 shares of the energy producer’s stock worth $261,000 after acquiring an additional 80 shares during the last quarter. Patten Group Inc. boosted its stake in shares of ConocoPhillips by 0.8% in the 3rd quarter. Patten Group Inc. now owns 11,025 shares of the energy producer’s stock valued at $1,307,000 after purchasing an additional 84 shares in the last quarter. Finally, BBR Partners LLC raised its position in ConocoPhillips by 2.4% in the 3rd quarter. BBR Partners LLC now owns 3,559 shares of the energy producer’s stock worth $364,000 after purchasing an additional 84 shares during the period. Institutional investors own 81.76% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $101.36 on Wednesday. The business’s fifty day moving average is $112.62 and its 200 day moving average is $116.11. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $123.54 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 0.52 and a beta of 1.29. ConocoPhillips has a twelve month low of $78.30 and a twelve month high of $138.49.

ConocoPhillips (NYSE:COP – Get Rating) last released its earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The business had revenue of $19.26 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the prior year, the company earned $2.27 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 10.99 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 29th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 2.01%. ConocoPhillips’s payout ratio is 14.06%.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 4,800 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were purchased at an average cost of $104.50 per share, with a total value of $501,600.00. Following the completion of the purchase, the director now owns 22,800 shares in the company, valued at approximately $2,382,600. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director R A. Walker bought 4,800 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were purchased at an average price of $104.50 per share, for a total transaction of $501,600.00. Following the completion of the purchase, the director now owns 22,800 shares in the company, valued at approximately $2,382,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy A. Leach sold 4,860 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $112.58, for a total value of $547,138.80. Following the sale, the director now directly owns 661,142 shares in the company, valued at $74,431,366.36. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several analyst reports. Barclays upped their price target on shares of ConocoPhillips from $151.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. Wolfe Research lowered ConocoPhillips from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 12th. Piper Sandler increased their price objective on ConocoPhillips from $155.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Mizuho decreased their target price on shares of ConocoPhillips from $150.00 to $143.00 in a research note on Friday, March 10th. Finally, Societe Generale cut shares of ConocoPhillips from a “hold” rating to a “sell” rating and increased their price target for the company from $106.00 to $114.00 in a research report on Monday, November 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.86.

ConocoPhillips Company Profile

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ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.