876 Shares in ConocoPhillips (NYSE:COP) Acquired by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC bought a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel reports. The fund bought 876 shares of the energy producer’s stock, valued at approximately $87,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TCI Wealth Advisors Inc. grew its position in ConocoPhillips by 18.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 2,252 shares of the energy producer’s stock worth $223,000 after purchasing an additional 351 shares during the last quarter. Country Trust Bank lifted its position in ConocoPhillips by 2.5% during the fourth quarter. Country Trust Bank now owns 263,706 shares of the energy producer’s stock valued at $26,152,000 after purchasing an additional 6,453 shares during the period. Kennebec Savings Bank boosted its holdings in ConocoPhillips by 31.1% in the fourth quarter. Kennebec Savings Bank now owns 5,490 shares of the energy producer’s stock valued at $572,000 after purchasing an additional 1,301 shares during the last quarter. Integris Wealth Management LLC grew its position in ConocoPhillips by 10.0% during the 4th quarter. Integris Wealth Management LLC now owns 2,550 shares of the energy producer’s stock worth $253,000 after purchasing an additional 232 shares during the period. Finally, AA Financial Advisors LLC raised its stake in shares of ConocoPhillips by 11.3% during the 4th quarter. AA Financial Advisors LLC now owns 7,681 shares of the energy producer’s stock valued at $762,000 after buying an additional 777 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Stock Down 2.7 %

Shares of NYSE:COP opened at $98.70 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $113.59 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.19. The firm’s 50 day moving average price is $102.08 and its 200 day moving average price is $106.82.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.16 EPS. As a group, equities research analysts predict that ConocoPhillips will post 7.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James lifted their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $135.89.

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.