ConocoPhillips (NYSE:COP) Shares Bought by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC grew its holdings in ConocoPhillips (NYSE:COP) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,621 shares of the energy producer’s stock after purchasing an additional 293 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in ConocoPhillips were worth $458,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial lifted 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 ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. UBS Group reduced their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Finally, Susquehanna increased 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. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.56.

Insider Buying and Selling

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

ConocoPhillips Price Performance

ConocoPhillips stock opened at $97.90 on Friday. The firm has a fifty day moving average of $100.11 and a 200-day moving average of $105.44. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $124.57 billion, a P/E ratio of 12.57, a PEG ratio of 0.78 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.19%. ConocoPhillips’s payout ratio is currently 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.