Segment Wealth Management LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

Segment Wealth Management LLC lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,369 shares of the energy producer's stock after purchasing an additional 2,615 shares during the quarter. Segment Wealth Management LLC's holdings in ConocoPhillips were worth $1,425,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COP. Cypress Capital Group raised its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock worth $1,978,000 after acquiring an additional 96 shares during the period. Aprio Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer's stock worth $224,000 after purchasing an additional 97 shares in the last quarter. Smithfield Trust Co lifted its stake in ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer's stock valued at $332,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC boosted its holdings in ConocoPhillips by 1.0% in the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer's stock worth $1,053,000 after buying an additional 102 shares during the last quarter. Finally, Asset Dedication LLC increased its stake in ConocoPhillips by 2.5% during the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer's stock worth $442,000 after buying an additional 102 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the 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 acquisition, the director now directly owns 21,500 shares of the company's stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 1.5 %

Shares of COP traded down $1.60 during midday trading on Tuesday, hitting $104.25. 7,142,830 shares of the stock were exchanged, compared to its average volume of 5,972,967. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a fifty day simple moving average of $103.67 and a 200 day simple moving average of $107.31. The firm has a market cap of $119.98 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips's revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. On average, research analysts anticipate that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.99%. ConocoPhillips's dividend payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COP shares. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 target price for the company. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. Finally, Piper Sandler cut their price objective 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 research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips has an average rating of "Buy" and a consensus price target of $136.00.

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.