Sagespring Wealth Partners LLC Takes Position in ConocoPhillips (NYSE:COP)

Sagespring Wealth Partners LLC bought a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 10,253 shares of the energy producer’s stock, valued at approximately $1,017,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Albion Financial Group UT lifted its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates boosted its stake in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COP shares. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock 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 decreased their price target on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.79.

ConocoPhillips Stock Up 3.7 %

Shares of COP opened at $86.36 on Monday. The business’s fifty day moving average price is $96.51 and its two-hundred day moving average price is $102.04. The firm has a market capitalization of $109.17 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $132.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

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.