Lyell Wealth Management LP Increases Stake in ConocoPhillips (NYSE:COP)

Lyell Wealth Management LP grew its position in shares of ConocoPhillips (NYSE:COP) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 48,866 shares of the energy producer’s stock after acquiring an additional 1,383 shares during the quarter. Lyell Wealth Management LP’s holdings in ConocoPhillips were worth $5,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Orion Capital Management LLC bought a new stake in ConocoPhillips in the third quarter worth $27,000. West Branch Capital LLC lifted its position in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the last quarter. Spartan Planning & Wealth Management bought a new stake in ConocoPhillips in the third quarter worth $40,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in ConocoPhillips in the third quarter worth $44,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.4 %

COP traded down $0.57 on Wednesday, hitting $129.27. The company had a trading volume of 3,846,568 shares, compared to its average volume of 5,377,396. The stock has a fifty day moving average price of $121.71 and a 200-day moving average price of $117.49. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a market capitalization 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 posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Analysts predict that ConocoPhillips will post 9.47 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Susquehanna raised their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday. Scotiabank increased their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Truist Financial reduced their target price on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Barclays initiated coverage on ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price on the stock. Finally, Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insiders Place Their Bets

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips 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.