Congress Wealth Management LLC DE Trims Holdings in ConocoPhillips (NYSE:COP)

Congress Wealth Management LLC DE trimmed its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,714 shares of the energy producer's stock after selling 3,978 shares during the quarter. Congress Wealth Management LLC DE's holdings in ConocoPhillips were worth $14,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in COP. Albion Financial Group UT increased its holdings in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial lifted 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. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 target price on the stock. UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $133.05.

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ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.25 during midday trading on Tuesday, hitting $102.44. The stock had a trading volume of 6,556,167 shares, compared to its average volume of 6,428,560. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $99.17 and a 200-day simple moving average of $103.33. The company has a market capitalization of $130.34 billion, a PE ratio of 13.15, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data 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 return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips's payout ratio is presently 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.