TCI Wealth Advisors Inc. Grows Holdings in ConocoPhillips (NYSE:COP)

TCI Wealth Advisors Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,252 shares of the energy producer’s stock after purchasing an additional 351 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in ConocoPhillips were worth $223,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Albion Financial Group UT grew its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new position in ConocoPhillips in the third quarter worth approximately $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the topic of several research reports. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Wells Fargo & Company lowered their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and an average target price of $135.89.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 2.7 %

NYSE:COP opened at $98.70 on Friday. The company has a market capitalization of $113.59 billion, a P/E ratio of 11.74, a PEG ratio of 0.78 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a fifty day simple moving average of $102.08 and a 200-day simple moving average of $106.82.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that ConocoPhillips will post 7.64 earnings per share for the current year.

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.