ConocoPhillips (NYSE:COP) Shares Bought by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 8.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,604 shares of the energy producer’s stock after purchasing an additional 210 shares during the period. Silverlake Wealth Management LLC’s holdings in ConocoPhillips were worth $258,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its holdings in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares in the last quarter. Czech National Bank boosted its holdings in ConocoPhillips by 6.2% during the third quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock worth $24,905,000 after buying an additional 13,707 shares in the last quarter. Bangor Savings Bank lifted its holdings in shares of ConocoPhillips by 13.0% in the third quarter. Bangor Savings Bank now owns 2,277 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 262 shares in the last quarter. Aprio Wealth Management LLC increased its position in ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after purchasing an additional 97 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in ConocoPhillips by 9.8% during the third quarter. Atomi Financial Group Inc. now owns 11,360 shares of the energy producer’s stock worth $1,196,000 after purchasing an additional 1,013 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research analyst reports. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Raymond James increased their price objective on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Performance

Shares of COP opened at $100.18 on Thursday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a 50-day moving average of $101.54 and a two-hundred day moving average of $106.36. The stock has a market cap of $115.30 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

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.