Weatherly Asset Management L. P. Has $6.02 Million Stock Position in ConocoPhillips (NYSE:COP)

Weatherly Asset Management L. P. grew its position in ConocoPhillips (NYSE:COP) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,682 shares of the energy producer’s stock after buying an additional 3,763 shares during the quarter. Weatherly Asset Management L. P.’s holdings in ConocoPhillips were worth $6,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT boosted its holdings in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the period. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the third quarter worth about $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Up 1.0 %

Shares of COP stock opened at $99.39 on Tuesday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The stock has a market cap of $114.39 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The firm has a fifty day moving average of $101.05 and a 200-day moving average of $106.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. On average, equities research analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

Several analysts recently commented on COP shares. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a report on Monday. Truist Financial raised their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Finally, Susquehanna lifted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.72.

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.