Axxcess Wealth Management LLC Acquires 5,912 Shares of ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC raised its holdings in ConocoPhillips (NYSE:COP) by 17.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,779 shares of the energy producer’s stock after purchasing an additional 5,912 shares during the period. Axxcess Wealth Management LLC’s holdings in ConocoPhillips were worth $3,945,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Albion Financial Group UT grew its holdings 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 purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter worth $31,000. RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at $35,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on 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 completion of the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Trading Up 1.2 %

NYSE COP opened at $100.51 on Wednesday. The stock has a market capitalization of $127.88 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.79 and a beta of 1.12. The business has a 50 day simple moving average of $99.19 and a 200 day simple moving average of $103.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.10%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COP shares. Wells Fargo & Company lowered their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Truist Financial boosted 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.05.

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.