Prevail Innovative Wealth Advisors LLC Buys New Shares in ConocoPhillips (NYSE:COP)

Prevail Innovative Wealth Advisors LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 55,705 shares of the energy producer's stock, valued at approximately $5,524,000. ConocoPhillips accounts for about 1.6% of Prevail Innovative Wealth Advisors LLC's investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after purchasing an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial increased 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. Raymond James lowered shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 target price on the stock. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $132.95.

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ConocoPhillips Trading Up 0.2 %

ConocoPhillips stock traded up $0.17 during mid-day trading on Wednesday, hitting $105.56. 2,654,035 shares of the stock were exchanged, compared to its average volume of 6,765,532. The stock has a market capitalization of $134.31 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. 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 firm's fifty day simple moving average is $98.96 and its two-hundred day simple moving average is $103.31.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.96%. ConocoPhillips's payout ratio is 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.