Signature Estate & Investment Advisors LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Signature Estate & Investment Advisors LLC lifted its stake in ConocoPhillips (NYSE:COP) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,252 shares of the energy producer’s stock after purchasing an additional 402 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in ConocoPhillips were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Zions Bancorporation N.A. boosted its holdings in ConocoPhillips by 29.3% in the fourth quarter. Zions Bancorporation N.A. now owns 529 shares of the energy producer’s stock worth $52,000 after purchasing an additional 120 shares during the last quarter. TIAA Trust National Association lifted its holdings in shares of ConocoPhillips by 38.9% during the 4th quarter. TIAA Trust National Association now owns 239,498 shares of the energy producer’s stock valued at $23,749,000 after buying an additional 67,038 shares during the period. FineMark National Bank & Trust boosted its stake in shares of ConocoPhillips by 2.7% in the 4th quarter. FineMark National Bank & Trust now owns 12,629 shares of the energy producer’s stock worth $1,252,000 after buying an additional 330 shares during the last quarter. Modern Wealth Management LLC boosted its stake in shares of ConocoPhillips by 48.4% in the 4th quarter. Modern Wealth Management LLC now owns 12,702 shares of the energy producer’s stock worth $1,264,000 after buying an additional 4,141 shares during the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in ConocoPhillips during the fourth quarter valued at $1,137,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

NYSE:COP opened at $103.15 on Thursday. The business’s 50-day simple moving average is $99.08 and its two-hundred day simple moving average is $103.31. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The stock has a market cap of $131.25 billion, a PE ratio of 13.24, 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 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%. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal 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. This represents a $3.12 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

COP has been the topic of several research reports. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research report on Thursday, January 30th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research note 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.05.

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.