Avantax Planning Partners Inc. Has $3.41 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Avantax Planning Partners Inc. lessened its holdings in ConocoPhillips (NYSE:COP) by 2.7% in the first quarter, HoldingsChannel reports. The fund owned 32,435 shares of the energy producer’s stock after selling 901 shares during the period. Avantax Planning Partners Inc.’s holdings in ConocoPhillips were worth $3,406,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of COP. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $26,000. 10Elms LLP bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter worth $32,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the first quarter worth $35,000. Finally, Rakuten Securities Inc. raised its stake in ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 262 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Raymond James Financial reiterated an “outperform” rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Morgan Stanley raised their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Piper Sandler boosted their price target on ConocoPhillips from $107.00 to $113.00 and gave the stock an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

ConocoPhillips Stock Performance

Shares of COP stock opened at $94.28 on Friday. The stock has a market capitalization of $119.19 billion, a PE ratio of 11.98, a PEG ratio of 2.55 and a beta of 0.61. The business’s 50 day simple moving average is $90.18 and its 200 day simple moving average is $94.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.31%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

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.