Mission Wealth Management LP Raises Holdings in ConocoPhillips (NYSE:COP)

Mission Wealth Management LP grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 25.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,489 shares of the energy producer's stock after purchasing an additional 3,599 shares during the period. Mission Wealth Management LP's holdings in ConocoPhillips were worth $1,734,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in ConocoPhillips by 42.7% during the third 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 position in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock valued at $1,901,000 after buying an additional 7,174 shares in the last quarter. Brookstone Capital Management lifted its position in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock valued at $878,000 after buying an additional 383 shares in the last quarter. Prospera Financial Services Inc grew its stake in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock valued at $7,488,000 after acquiring an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in ConocoPhillips by 1.9% in 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 acquiring an additional 46,621 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Evercore ISI reiterated an "outperform" rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $133.47.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $1.49 on Wednesday, hitting $89.15. The stock had a trading volume of 9,030,591 shares, compared to its average volume of 7,137,480. The stock has a market cap of $113.44 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company's 50 day moving average price is $99.99 and its 200 day moving average price is $104.75.

ConocoPhillips (NYSE:COP - Get Free Report) last issued 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, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.50%. ConocoPhillips's dividend payout ratio is presently 40.05%.

Insider Activity

In related news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company's stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company's stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.