HB Wealth Management LLC Acquires 3,379 Shares of ConocoPhillips (NYSE:COP)

HB Wealth Management LLC raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,113 shares of the energy producer's stock after purchasing an additional 3,379 shares during the quarter. HB Wealth Management LLC's holdings in ConocoPhillips were worth $3,878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter worth $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $31,000. Global Wealth Strategies & Associates raised its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter worth $35,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.1 %

COP traded up $0.15 during midday trading on Friday, hitting $105.76. The company's stock had a trading volume of 8,546,391 shares, compared to its average volume of 6,479,072. The firm has a 50-day moving average price of $103.79 and a two-hundred day moving average price of $107.43. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The firm has a market cap of $121.72 billion, a P/E ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm's revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current 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 given a $0.78 dividend. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. ConocoPhillips's dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They issued an "overweight" rating and a $128.00 target price on the stock. Finally, Piper Sandler dropped their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $136.00.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents 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.

About ConocoPhillips

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.