Wealthspire Advisors LLC Buys 1,917 Shares of ConocoPhillips $COP

Wealthspire Advisors LLC lifted its stake in ConocoPhillips (NYSE:COP) by 24.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,667 shares of the energy producer’s stock after buying an additional 1,917 shares during the quarter. Wealthspire Advisors LLC’s holdings in ConocoPhillips were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in COP. Bogart Wealth LLC increased its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management boosted its position in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the period. Financial Network Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips during the 1st quarter valued at $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $87.61 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $90.58 and its 200-day moving average price is $91.87. The company has a market cap of $108.26 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Wolfe Research reiterated an “outperform” rating and issued a $131.00 price target on shares of ConocoPhillips in a research note on Thursday, November 6th. Morgan Stanley cut their target price on ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna decreased their target price on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Piper Sandler dropped their price target on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Finally, Melius assumed coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $115.13.

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.