Magnolia Capital Advisors LLC Boosts Position in ConocoPhillips (NYSE:COP)

Magnolia Capital Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 26.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,900 shares of the energy producer’s stock after purchasing an additional 599 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in ConocoPhillips were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its holdings in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $44,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COP shares. UBS Group lifted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Truist Financial cut their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Scotiabank lifted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Raymond James cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.24.

Insider Activity

In other news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

COP traded down $0.57 on Wednesday, hitting $129.27. 3,846,568 shares of the company’s stock were exchanged, compared to its average volume of 5,377,396. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $121.71 and a 200-day moving average price of $117.49. The stock has a market cap of $152.07 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.73 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the company posted $2.71 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 9.47 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.41%. ConocoPhillips’s payout ratio is presently 25.61%.

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.