Summit Financial Wealth Advisors LLC Grows Position in ConocoPhillips (NYSE:COP)

Summit Financial Wealth Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 10.9% during the fourth quarter, HoldingsChannel reports. The firm owned 4,042 shares of the energy producer’s stock after purchasing an additional 396 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in ConocoPhillips were worth $398,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Albion Financial Group UT boosted its position in 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 acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the fourth quarter valued at about $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the fourth quarter worth about $32,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $8.01 during midday trading on Thursday, reaching $83.50. 2,607,365 shares of the stock were exchanged, compared to its average volume of 6,978,015. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $105.56 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.79 and a beta of 0.83. The firm has a 50-day simple moving average of $97.11 and a two-hundred day simple moving average of $102.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month 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 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%. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. UBS Group lowered their price target on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating for the company in a report on Monday. Finally, Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.84.

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.