Tulsa Wealth Advisors INC Invests $3.24 Million in ConocoPhillips $COP

Tulsa Wealth Advisors INC bought a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 34,615 shares of the energy producer’s stock, valued at approximately $3,240,000. ConocoPhillips makes up about 1.1% of Tulsa Wealth Advisors INC’s portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in COP. Strive Asset Management LLC purchased a new position in ConocoPhillips during the third quarter worth about $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips in the 4th quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips in the 3rd quarter valued at approximately $28,000. Sfam LLC acquired a new position in ConocoPhillips during the 4th quarter worth approximately $34,000. Finally, Optima Capital LLC acquired a new position in ConocoPhillips during the 4th quarter worth approximately $34,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the transaction, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 127,915 shares of company stock valued at $16,915,448. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup raised their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada upped their price objective on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Piper Sandler increased their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. BMO Capital Markets cut their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Scotiabank raised their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.48.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $107.92 on Friday. The business’s 50 day simple moving average is $118.65 and its 200-day simple moving average is $111.25. The firm has a market capitalization of $131.48 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. As a group, equities analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio is 57.05%.

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.