Lyell Wealth Management LP Boosts Holdings in ConocoPhillips (NYSE:COP)

Lyell Wealth Management LP increased its stake in shares of ConocoPhillips (NYSE:COP) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,866 shares of the energy producer’s stock after buying an additional 1,383 shares during the period. Lyell Wealth Management LP’s holdings in ConocoPhillips were worth $5,672,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COP. Orion Capital Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $27,000. West Branch Capital LLC increased its stake in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips in the third quarter worth about $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of ConocoPhillips in the third quarter worth about $44,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last three months. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Susquehanna lifted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Barclays initiated coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price for the company. UBS Group raised their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Truist Financial cut their price objective on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.57 during mid-day trading on Wednesday, hitting $129.27. 3,846,568 shares of the company traded hands, compared to its average volume of 5,377,396. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The stock has a market cap of $152.07 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a fifty day moving average price of $121.71 and a 200-day moving average price of $117.49.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the business posted $2.71 EPS. On average, equities analysts predict that ConocoPhillips will post 9.47 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.41%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

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.