Avidian Wealth Enterprises LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

Avidian Wealth Enterprises LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,521 shares of the energy producer's stock after buying an additional 5,080 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in ConocoPhillips were worth $1,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COP. State Street Corp lifted its holdings in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP raised its holdings in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC boosted its position in ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. boosted its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock worth $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COP shares. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Barclays lowered their price target on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Evercore ISI reiterated an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $133.56.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $0.52 during midday trading on Friday, hitting $96.39. The company had a trading volume of 7,959,626 shares, compared to its average volume of 5,701,314. The business's 50-day simple moving average is $100.44 and its 200-day simple moving average is $105.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The stock has a market cap of $110.93 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. ConocoPhillips's dividend payout ratio is currently 40.05%.

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.