2,578 Shares in ConocoPhillips (NYSE:COP) Bought by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,578 shares of the energy producer’s stock, valued at approximately $256,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC raised its stake in ConocoPhillips by 164.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer’s stock valued at $6,293,000 after buying an additional 37,201 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of ConocoPhillips by 22.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer’s stock valued at $4,073,000 after acquiring an additional 7,131 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in ConocoPhillips by 9.1% during the third quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer’s stock worth $2,562,000 after purchasing an additional 2,033 shares during the last quarter. National Bank of Canada FI boosted its holdings in ConocoPhillips by 15.7% in the third quarter. National Bank of Canada FI now owns 735,557 shares of the energy producer’s stock worth $77,439,000 after purchasing an additional 99,972 shares during the period. Finally, DF Dent & Co. Inc. boosted its holdings in ConocoPhillips by 88.4% in the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer’s stock worth $655,000 after purchasing an additional 2,920 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 9.5 %

ConocoPhillips stock opened at $86.18 on Monday. ConocoPhillips has a 12-month low of $81.34 and a 12-month 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. The stock has a market capitalization of $108.95 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The firm has a 50 day simple moving average of $98.53 and a 200-day simple moving average of $103.06.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley decreased their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Two research 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

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.