Forvis Mazars Wealth Advisors LLC Acquires 4,056 Shares of ConocoPhillips $COP

Forvis Mazars Wealth Advisors LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 8.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 51,555 shares of the energy producer’s stock after acquiring an additional 4,056 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in ConocoPhillips were worth $6,689,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. AG purchased a new stake in ConocoPhillips during the second quarter worth $6,896,000. Qsemble Capital Management LP purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $3,645,000. Cetera Trust Company N.A purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $870,000. Nicholas Investment Partners LP purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $6,498,000. Finally, Osmosis Investment Management UK Ltd purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $1,475,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $3.46 during midday trading on Tuesday, hitting $141.02. The company had a trading volume of 6,523,719 shares, compared to its average volume of 8,085,873. The stock has a market cap of $169.42 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.38 and a beta of 0.24. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $130.48 and a 200 day simple moving average of $122.15. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $141.62.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. ConocoPhillips’s revenue was up 32.4% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 10.84 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Argus raised their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Barclays cut their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Seaport Research Partners assumed coverage on shares of ConocoPhillips in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Finally, Morgan Stanley boosted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.29.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.