ConocoPhillips $COP Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management raised its stake in shares of ConocoPhillips (NYSE:COP) by 175.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,254 shares of the energy producer’s stock after buying an additional 16,077 shares during the quarter. Smith Salley Wealth Management’s holdings in ConocoPhillips were worth $2,389,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of COP. Primecap Management Co. CA boosted its stake in shares of ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after acquiring an additional 3,135,315 shares during the last quarter. AQR Capital Management LLC lifted its holdings in ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after purchasing an additional 3,058,505 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of ConocoPhillips by 31.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after purchasing an additional 2,575,803 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of ConocoPhillips by 145.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,933,286 shares of the energy producer’s stock worth $263,233,000 after buying an additional 1,740,009 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of ConocoPhillips by 6,156.1% in the second quarter. Valeo Financial Advisors LLC now owns 1,508,169 shares of the energy producer’s stock valued at $135,343,000 after buying an additional 1,484,062 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on COP shares. Morgan Stanley decreased their target price on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. The Goldman Sachs Group reduced their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Wells Fargo & Company initiated coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $115.00 price target on shares of ConocoPhillips in a report on Monday, November 24th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

ConocoPhillips Stock Performance

NYSE COP opened at $94.14 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The firm has a market capitalization of $116.33 billion, a P/E ratio of 13.31, a P/E/G ratio of 2.10 and a beta of 0.32. The business’s 50-day simple moving average is $90.31 and its 200-day simple moving average is $92.48.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter last year, the firm posted $1.78 earnings per share. ConocoPhillips’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.6%. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The shares were bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.24% of the stock is currently owned by corporate insiders.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.