Arkadios Wealth Advisors Boosts Stock Position in ConocoPhillips (NYSE:COP)

Arkadios Wealth Advisors increased its stake in ConocoPhillips (NYSE:COP) by 50.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,257 shares of the energy producer’s stock after buying an additional 7,491 shares during the period. Arkadios Wealth Advisors’ holdings in ConocoPhillips were worth $2,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Cypress Capital Group grew its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the last quarter. Aprio Wealth Management LLC grew its holdings in shares of ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after buying an additional 97 shares during the last quarter. Smithfield Trust Co lifted its position in ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC lifted its position in ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after purchasing an additional 102 shares during the period. Finally, Asset Dedication LLC lifted its position in ConocoPhillips by 2.5% during the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

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

ConocoPhillips Stock Up 0.1 %

COP stock opened at $105.76 on Friday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The stock has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $103.79 and a 200-day simple moving average of $107.47.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the company earned $2.16 EPS. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COP. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday. They set a “buy” rating and a $125.00 target price for the company. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $136.00.

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.