Legacy Wealth Asset Management LLC Takes $664,000 Position in ConocoPhillips (NYSE:COP)


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Legacy Wealth Asset Management LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 16,614 shares of the energy producer’s stock, valued at approximately $664,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in COP. Advisors Asset Management Inc. grew its position in shares of ConocoPhillips by 7.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 59,740 shares of the energy producer’s stock valued at $1,962,000 after acquiring an additional 3,983 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in shares of ConocoPhillips by 3.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 18,764 shares of the energy producer’s stock worth $616,000 after buying an additional 541 shares during the period. First City Capital Management Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $280,000. Squarepoint Ops LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $8,962,000. Finally, Advisory Alpha LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $90,000. 72.87% of the stock is owned by institutional investors.

Shares of NYSE:COP opened at $52.38 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $70.83 billion, a PE ratio of -46.35, a P/E/G ratio of 10.03 and a beta of 1.85. ConocoPhillips has a twelve month low of $27.53 and a twelve month high of $61.14. The company has a 50-day moving average price of $54.01 and a two-hundred day moving average price of $42.67.

ConocoPhillips (NYSE:COP) last issued its earnings results on Monday, February 1st. The energy producer reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $4.69 billion. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. During the same quarter last year, the business earned $0.76 earnings per share. Analysts anticipate that ConocoPhillips will post -0.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, February 11th. This represents a $1.72 dividend on an annualized basis and a yield of 3.28%. ConocoPhillips’s dividend payout ratio is presently 47.91%.

Several equities analysts have recently commented on COP shares. Piper Sandler boosted their target price on shares of ConocoPhillips from $50.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Smith Barney Citigroup upped their price objective on shares of ConocoPhillips from $39.00 to $50.00 in a research note on Wednesday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of ConocoPhillips in a research note on Tuesday, January 19th. They issued a “neutral” rating on the stock. Evercore ISI initiated coverage on shares of ConocoPhillips in a research note on Thursday, December 17th. They issued a $54.00 price objective on the stock. Finally, Bank of America reaffirmed a “neutral” rating on shares of ConocoPhillips in a research note on Monday, March 22nd. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $53.88.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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