BlueChip Wealth Advisors LLC Has $453,000 Position in ConocoPhillips (NYSE:COP)

BlueChip Wealth Advisors LLC grew its stake in ConocoPhillips (NYSE:COP) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,568 shares of the energy producer’s stock after acquiring an additional 287 shares during the quarter. BlueChip Wealth Advisors LLC’s holdings in ConocoPhillips were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of COP. Vanguard Group Inc. lifted its holdings in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. State Street Corp raised its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP lifted its stake in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after buying an additional 3,541,504 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of ConocoPhillips during the fourth quarter worth $232,859,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of a number of research reports. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Morgan Stanley decreased their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Performance

COP opened at $102.37 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The business has a 50 day moving average of $98.95 and a 200-day moving average of $103.28. The stock has a market cap of $130.26 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

ConocoPhillips Company 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.