Brady Martz Wealth Solutions LLC Takes $888,000 Position in ConocoPhillips (NYSE:COP)

Brady Martz Wealth Solutions LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,463 shares of the energy producer's stock, valued at approximately $888,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. XTX Topco Ltd boosted its stake in ConocoPhillips by 168.3% in the 2nd quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer's stock worth $1,446,000 after purchasing an additional 7,928 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of ConocoPhillips by 72.3% in the second quarter. Intech Investment Management LLC now owns 111,852 shares of the energy producer's stock worth $12,794,000 after buying an additional 46,942 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of ConocoPhillips by 9.3% during the second quarter. Brighton Jones LLC now owns 14,990 shares of the energy producer's stock valued at $1,715,000 after buying an additional 1,275 shares during the last quarter. Ieq Capital LLC boosted its stake in ConocoPhillips by 6.8% during the 2nd quarter. Ieq Capital LLC now owns 62,773 shares of the energy producer's stock valued at $7,180,000 after purchasing an additional 4,020 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in ConocoPhillips by 25.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 37,493 shares of the energy producer's stock worth $4,289,000 after buying an additional 7,545 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Barclays raised their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company reduced their price objective on ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Buy" and an average target price of $136.00.

ConocoPhillips Price Performance

NYSE COP traded up $0.15 during trading hours on Monday, reaching $105.76. The company's stock had a trading volume of 8,546,391 shares, compared to its average volume of 6,479,072. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. 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 company has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19. The firm's 50-day moving average price is $103.79 and its 200-day moving average price is $107.37.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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. The company had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the company posted $2.16 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips's payout ratio is 37.10%.

Insider Buying and Selling

In related news, Director R A. Walker purchased 10,400 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction 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. 0.34% of the stock is owned by company insiders.

ConocoPhillips Company 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.