ORG Wealth Partners LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

ORG Wealth Partners LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 853.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,616 shares of the energy producer’s stock after purchasing an additional 5,922 shares during the quarter. ORG Wealth Partners LLC’s holdings in ConocoPhillips were worth $698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $27,000. 10Elms LLP purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president now directly owns 14,527 shares of the company’s stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $93.77 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The business’s 50 day moving average price is $89.27 and its 200-day moving average price is $95.68. The firm has a market capitalization of $118.54 billion, a PE ratio of 11.91, a P/E/G ratio of 2.58 and a beta of 0.61. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the previous year, the company posted $2.05 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COP. Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. UBS Group reduced their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Piper Sandler reduced their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Mizuho reduced their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.30.

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.