2,997 Shares in ConocoPhillips (NYSE:COP) Purchased by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,997 shares of the energy producer’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Morton Community Bank raised its holdings in shares of ConocoPhillips by 0.4% during the fourth quarter. Morton Community Bank now owns 37,123 shares of the energy producer’s stock valued at $3,681,000 after buying an additional 145 shares during the last quarter. Tortoise Investment Management LLC increased its position in ConocoPhillips by 10.7% in the 4th quarter. Tortoise Investment Management LLC now owns 1,765 shares of the energy producer’s stock valued at $175,000 after acquiring an additional 171 shares during the period. Independent Advisor Alliance raised its stake in ConocoPhillips by 0.8% during the 4th quarter. Independent Advisor Alliance now owns 91,660 shares of the energy producer’s stock valued at $9,090,000 after acquiring an additional 735 shares in the last quarter. Paragon Private Wealth Management LLC boosted its position in ConocoPhillips by 10.4% during the 4th quarter. Paragon Private Wealth Management LLC now owns 2,744 shares of the energy producer’s stock worth $272,000 after acquiring an additional 258 shares during the period. Finally, Meriwether Wealth & Planning LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth $900,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Finally, UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.47.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

NYSE COP opened at $92.60 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a market cap of $117.82 billion, a PE ratio of 11.89, a PEG ratio of 0.79 and a beta of 1.12. The stock’s 50-day moving average price is $99.44 and its two-hundred day moving average price is $104.18.

ConocoPhillips (NYSE:COP) last released 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 net margin of 16.23% and a return on equity of 17.26%. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.37%. ConocoPhillips’s payout ratio is currently 40.05%.

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.