BCO Wealth Management LLC Acquires Shares of 3,188 ConocoPhillips (NYSE:COP)

BCO Wealth Management LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,188 shares of the energy producer’s stock, valued at approximately $316,000. ConocoPhillips comprises about 0.3% of BCO Wealth Management LLC’s investment portfolio, making the stock its 26th largest position.

A number of other institutional investors have also modified their holdings of COP. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter worth $31,000. Finally, Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the fourth quarter worth $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.6 %

Shares of ConocoPhillips stock opened at $103.15 on Thursday. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a market cap of $131.25 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $99.08 and a 200 day moving average price of $103.31.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.02%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analysts Set New Price Targets

COP has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.05.

About ConocoPhillips

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.