Modera Wealth Management LLC Acquires 957 Shares of ConocoPhillips $COP

Modera Wealth Management LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,455 shares of the energy producer’s stock after buying an additional 957 shares during the quarter. Modera Wealth Management LLC’s holdings in ConocoPhillips were worth $1,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Bogart Wealth LLC increased its holdings in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares in the last quarter. Activest Wealth Management boosted its position in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC grew its holdings in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COP. Capital One Financial lifted their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Piper Sandler dropped their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Melius Research started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Barclays decreased their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Stock Performance

NYSE:COP opened at $86.82 on Friday. The company has a market capitalization of $108.43 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58. The business has a fifty day simple moving average of $91.58 and a two-hundred day simple moving average of $92.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is currently 41.88%.

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.