Argent Advisors Inc. Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Argent Advisors Inc. boosted its position in ConocoPhillips (NYSE:COP) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,501 shares of the energy producer’s stock after acquiring an additional 127 shares during the period. Argent Advisors Inc.’s holdings in ConocoPhillips were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the subject of several research reports. Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. UBS Group decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Finally, The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $133.05.

Insider Activity

In related news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $99.42 on Tuesday. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $126.50 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.79 and a beta of 1.12. The company’s fifty day moving average price is $99.22 and its two-hundred day moving average price is $103.65.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.