Axxcess Wealth Management LLC Has $3.76 Million Stock Position in ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 30.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,396 shares of the energy producer’s stock after purchasing an additional 7,492 shares during the period. Axxcess Wealth Management LLC’s holdings in ConocoPhillips were worth $3,760,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its holdings in shares of ConocoPhillips by 7.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 24,607 shares of the energy producer’s stock worth $2,948,000 after buying an additional 1,610 shares during the period. Brown Advisory Inc. boosted its holdings in ConocoPhillips by 7.8% in the 3rd quarter. Brown Advisory Inc. now owns 134,285 shares of the energy producer’s stock valued at $16,087,000 after purchasing an additional 9,723 shares during the period. Signet Financial Management LLC grew its position in ConocoPhillips by 5.8% in the 3rd quarter. Signet Financial Management LLC now owns 4,607 shares of the energy producer’s stock worth $552,000 after purchasing an additional 251 shares during the last quarter. Kowal Investment Group LLC raised its position in shares of ConocoPhillips by 19.5% during the third quarter. Kowal Investment Group LLC now owns 6,050 shares of the energy producer’s stock valued at $725,000 after buying an additional 986 shares during the last quarter. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of ConocoPhillips in the third quarter valued at about $1,905,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In related news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 in the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial lowered their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Piper Sandler boosted their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Barclays assumed coverage on ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Wells Fargo & Company raised their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley increased their price objective 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.76.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP traded down $0.02 during mid-day trading on Friday, hitting $122.23. The company’s stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.29. The stock has a market cap of $143.79 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The company’s fifty day simple moving average is $123.85 and its 200-day simple moving average is $117.73. ConocoPhillips has a one year low of $95.81 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the business earned $2.71 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. ConocoPhillips’s payout ratio is currently 26.27%.

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.