Adams Wealth Management Boosts Stock Position in ConocoPhillips (NYSE:COP)

Adams Wealth Management raised its position in shares of ConocoPhillips (NYSE:COP) by 19.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,495 shares of the energy producer’s stock after buying an additional 4,628 shares during the period. Adams Wealth Management’s holdings in ConocoPhillips were worth $2,825,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of COP. Vanguard Group Inc. raised its stake in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Invesco Ltd. increased its holdings in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Franklin Resources Inc. boosted its stake in ConocoPhillips by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer’s stock worth $1,430,034,000 after purchasing an additional 862,707 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in ConocoPhillips by 10.6% during the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after purchasing an additional 1,324,771 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Scotiabank reduced their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.74.

ConocoPhillips Stock Down 0.1 %

COP opened at $86.32 on Tuesday. The company has a fifty day moving average of $96.24 and a two-hundred day moving average of $101.91. The stock has a market capitalization of $109.12 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $132.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 return on equity of 17.26% and a net margin of 16.23%. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced 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 3.61%. 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.