MOKAN Wealth Management Inc. Invests $4.35 Million in ConocoPhillips (NYSE:COP)

MOKAN Wealth Management Inc. bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,814 shares of the energy producer's stock, valued at approximately $4,345,000. ConocoPhillips makes up 2.8% of MOKAN Wealth Management Inc.'s investment portfolio, making the stock its 11th biggest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC boosted its position 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 acquiring an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in ConocoPhillips by 59.8% during the fourth 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 during the last quarter. Brookstone Capital Management grew its position in ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock valued at $878,000 after purchasing an additional 383 shares in the last quarter. Prospera Financial Services Inc increased 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 buying an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position 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 buying an additional 46,621 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP traded up $2.10 during midday trading on Wednesday, reaching $99.55. 7,509,858 shares of the stock were exchanged, compared to its average volume of 6,740,073. 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 50 day simple moving average is $100.15 and its 200 day simple moving average is $105.51. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market cap of $114.57 billion, a P/E ratio of 12.78, a PEG ratio of 0.75 and a beta of 1.18.

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, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts expect that ConocoPhillips will post 8.16 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays lowered their target price on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Mizuho raised ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $133.56.

Insiders Place Their Bets

In other news, Director R A. Walker acquired 10,400 shares of the business's 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 completion of the transaction, the director now directly owns 38,000 shares of the company's stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The stock was purchased at an average cost 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 approximately $2,061,205. This trade represents a 13.16 % 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.