Journey Strategic Wealth LLC Purchases 391 Shares of ConocoPhillips (NYSE:COP)

Journey Strategic Wealth LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,101 shares of the energy producer’s stock after buying an additional 391 shares during the period. Journey Strategic Wealth LLC’s holdings in ConocoPhillips were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Albion Financial Group UT boosted its holdings in ConocoPhillips by 876.9% during the fourth 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. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% in the 4th 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.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Scotiabank cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $135.89.

Insiders Place Their Bets

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

ConocoPhillips Price Performance

NYSE:COP opened at $98.70 on Monday. The firm has a market cap of $113.59 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.19. The company’s 50-day moving average price is $101.82 and its two-hundred day moving average price is $106.65. 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 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the company earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts anticipate that ConocoPhillips will post 7.64 EPS for the current fiscal year.

About ConocoPhillips

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.