MOKAN Wealth Management Inc. Has $3.15 Million Holdings in ConocoPhillips $COP

MOKAN Wealth Management Inc. lessened its holdings in ConocoPhillips (NYSE:COP) by 26.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,339 shares of the energy producer’s stock after selling 12,278 shares during the quarter. ConocoPhillips makes up approximately 1.6% of MOKAN Wealth Management Inc.’s holdings, making the stock its 19th biggest holding. MOKAN Wealth Management Inc.’s holdings in ConocoPhillips were worth $3,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COP. Heartland Bank & Trust Co increased its stake in shares of ConocoPhillips by 97.2% in the 2nd quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock valued at $616,000 after acquiring an additional 3,381 shares during the last quarter. Tema Etfs LLC bought a new position in ConocoPhillips during the 3rd quarter worth approximately $1,804,000. D.A. Davidson & CO. grew its holdings in ConocoPhillips by 12.1% during the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock valued at $13,321,000 after purchasing an additional 15,202 shares during the period. StoneX Group Inc. grew its holdings in ConocoPhillips by 510.5% during the second quarter. StoneX Group Inc. now owns 29,285 shares of the energy producer’s stock valued at $2,628,000 after purchasing an additional 24,488 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in ConocoPhillips by 3,079.8% in the third quarter. Exchange Traded Concepts LLC now owns 176,033 shares of the energy producer’s stock valued at $16,651,000 after purchasing an additional 170,497 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. The trade was a 60.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on COP shares. The Goldman Sachs Group lifted their price target on shares of ConocoPhillips from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating and dropped their price objective for the stock from $108.00 to $105.00 in a research note on Friday, December 5th. Evercore ISI reduced their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Wolfe Research decreased their target price on ConocoPhillips from $126.00 to $122.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Finally, Piper Sandler dropped their price target on ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $111.00.

ConocoPhillips Stock Performance

COP opened at $96.81 on Friday. The company has a market capitalization of $119.63 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 2.87 and a beta of 0.32. The business’s 50-day moving average price is $93.26 and its two-hundred day moving average price is $92.99. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $106.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period last year, the company earned $1.78 earnings per share. ConocoPhillips’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.5%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.