Adams Wealth Management Raises Stake in ConocoPhillips (NYSE:COP)

Adams Wealth Management grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,495 shares of the energy producer's stock after acquiring an additional 4,628 shares during the quarter. Adams Wealth Management's holdings in ConocoPhillips were worth $2,825,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bridgewater Associates LP increased its stake in shares of ConocoPhillips by 157.5% in the fourth quarter. Bridgewater Associates LP now owns 7,929 shares of the energy producer's stock valued at $786,000 after buying an additional 4,850 shares during the period. AGP Franklin LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $2,179,000. Ontario Teachers Pension Plan Board grew its stake in shares of ConocoPhillips by 78.2% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 28,770 shares of the energy producer's stock worth $2,853,000 after purchasing an additional 12,623 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in ConocoPhillips in the fourth quarter valued at $772,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in ConocoPhillips during the 4th quarter worth $1,852,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COP shares. Truist Financial increased 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. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $116.00 price objective on shares of ConocoPhillips in a research report on Tuesday. Scotiabank dropped their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Finally, TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 target price for the company. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.32.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $2.60 during mid-day trading on Friday, reaching $88.96. 7,804,344 shares of the company's stock were exchanged, compared to its average volume of 7,108,925. The firm has a 50-day moving average price of $95.25 and a two-hundred day moving average price of $101.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $112.46 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $130.77.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.51%. ConocoPhillips's dividend payout ratio is presently 40.05%.

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.