Glass Wealth Management Co LLC Makes New $541,000 Investment in ConocoPhillips (NYSE:COP)

Glass Wealth Management Co LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,455 shares of the energy producer's stock, valued at approximately $541,000.

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

ConocoPhillips Stock Performance

NYSE:COP traded down $1.67 during mid-day trading on Wednesday, hitting $88.98. 12,078,378 shares of the company traded hands, compared to its average volume of 7,213,794. 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's fifty day moving average price is $99.82 and its 200-day moving average price is $104.64. The firm has a market cap of $113.21 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a one year low of $86.81 and a one 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 (EPS) 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%. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.51%. ConocoPhillips's payout ratio is 40.05%.

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Evercore ISI reiterated an "outperform" rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.47.

Insider Activity

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company's stock.

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.