Principle Wealth Partners LLC Acquires 111 Shares of ConocoPhillips (NYSE:COP)

Principle Wealth Partners LLC grew its holdings in ConocoPhillips (NYSE:COP) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,629 shares of the energy producer’s stock after acquiring an additional 111 shares during the quarter. Principle Wealth Partners LLC’s holdings in ConocoPhillips were worth $5,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC boosted its position 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 valued at $27,000 after acquiring an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position 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 valued at $34,000 after acquiring an additional 111 shares during the period. Spartan Planning & Wealth Management bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $40,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at $46,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.13 during trading hours on Friday, hitting $130.24. 4,823,139 shares of the company’s stock were exchanged, compared to its average volume of 3,808,210. The stock’s 50-day moving average is $122.49 and its 200-day moving average is $117.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The stock has a market cap of $153.22 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the business earned $2.71 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.40%. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

Insider Activity at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 over the last 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COP. Scotiabank upped their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Raymond James cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Mizuho restated a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Susquehanna upped their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.24.

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.