BXM Wealth LLC Takes Position in ConocoPhillips (NYSE:COP)

BXM Wealth LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,845 shares of the energy producer's stock, valued at approximately $778,000. ConocoPhillips comprises about 1.1% of BXM Wealth LLC's holdings, making the stock its 27th largest holding.

A number of other institutional investors have also recently made changes to their positions in COP. Tidal Investments LLC lifted its holdings in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Brookstone Capital Management lifted its holdings in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after purchasing an additional 383 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock worth $7,488,000 after purchasing an additional 13,595 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock worth $262,094,000 after purchasing an additional 46,621 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Evercore ISI reaffirmed an "outperform" rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. JPMorgan Chase & Co. raised ConocoPhillips from a "neutral" rating to an "overweight" rating and raised their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price target on the stock. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus price target of $133.56.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the business's stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was acquired 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 disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Trading Up 1.1 %

COP traded up $1.09 on Tuesday, hitting $97.35. 11,773,544 shares of the company were exchanged, compared to its average volume of 6,715,071. The firm has a fifty day simple moving average of $100.30 and a two-hundred day simple moving average of $105.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a market capitalization of $112.04 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly 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%. Sell-side analysts expect that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 yield of 3.20%. ConocoPhillips's payout ratio is 40.05%.

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.