Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Holdings in ConocoPhillips (NYSE:COP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in ConocoPhillips (NYSE:COP) by 27.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,967 shares of the energy producer’s stock after purchasing an additional 2,770 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in ConocoPhillips were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Albion Financial Group UT grew its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter worth $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth $31,000. Finally, Global Wealth Strategies & Associates grew its position in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COP shares. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $135.89.

Insider Activity at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

ConocoPhillips Trading Down 1.2 %

Shares of NYSE:COP opened at $101.46 on Wednesday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The stock has a market cap of $116.78 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.86 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $102.76 and a 200-day moving average price of $106.98.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

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.