VCI Wealth Management LLC Takes Position in ConocoPhillips (NYSE:COP)

VCI Wealth Management LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,024 shares of the energy producer’s stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Orion Capital Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its stake in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the period. Spartan Planning & Wealth Management purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $44,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP traded up $0.79 during trading hours on Thursday, reaching $130.07. 3,664,033 shares of the company’s stock were exchanged, compared to its average volume of 5,355,984. The firm has a market capitalization of $153.02 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.71 and a beta of 1.24. The company has a 50-day moving average of $121.71 and a 200 day moving average of $117.49. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the business earned $2.71 EPS. Research analysts anticipate that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. UBS Group increased their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.24.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.34% of the company’s stock.

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.