King Wealth Management Group Has $223,000 Holdings in ConocoPhillips (NYSE:COP)

King Wealth Management Group raised its stake in ConocoPhillips (NYSE:COP) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,250 shares of the energy producer’s stock after buying an additional 154 shares during the quarter. King Wealth Management Group’s holdings in ConocoPhillips were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the period. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips in the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the third quarter worth $31,000. Global Wealth Strategies & Associates boosted its position in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

COP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Performance

Shares of COP opened at $96.27 on Friday. The company has a market cap of $122.49 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm has a 50-day moving average of $99.26 and a 200-day moving average of $103.97. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio 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.