Summit Financial LLC Has $2.78 Million Stock Position in ConocoPhillips (NYSE:COP)

Summit Financial LLC grew its holdings in ConocoPhillips (NYSE:COP) by 18.0% during the 4th quarter, Holdings Channel reports. The firm owned 28,007 shares of the energy producer’s stock after purchasing an additional 4,277 shares during the period. Summit Financial LLC’s holdings in ConocoPhillips were worth $2,777,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips in the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter valued at about $32,000. Finally, Global Wealth Strategies & Associates lifted its stake in ConocoPhillips by 80.5% in the fourth 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. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several analyst reports. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial upped their target price 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. UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Stock Performance

Shares of COP stock opened at $105.04 on Tuesday. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company’s fifty day simple moving average is $98.94 and its 200-day simple moving average is $103.29. The firm has a market cap of $133.65 billion, a PE ratio of 13.48, a P/E/G ratio of 0.79 and a beta of 1.12. 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 (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

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.