Flagship Wealth Advisors LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Flagship Wealth Advisors LLC purchased a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,300 shares of the energy producer’s stock, valued at approximately $129,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cozad Asset Management Inc. boosted its stake in ConocoPhillips by 2.3% in the 4th quarter. Cozad Asset Management Inc. now owns 5,931 shares of the energy producer’s stock worth $588,000 after purchasing an additional 131 shares during the period. 1ST Source Bank boosted its stake in ConocoPhillips by 0.3% in the 4th quarter. 1ST Source Bank now owns 45,348 shares of the energy producer’s stock worth $4,497,000 after purchasing an additional 119 shares during the period. TCTC Holdings LLC boosted its stake in ConocoPhillips by 0.6% in the 4th quarter. TCTC Holdings LLC now owns 227,325 shares of the energy producer’s stock worth $22,544,000 after purchasing an additional 1,355 shares during the period. Signaturefd LLC boosted its stake in ConocoPhillips by 8.3% in the 4th quarter. Signaturefd LLC now owns 25,173 shares of the energy producer’s stock worth $2,496,000 after purchasing an additional 1,938 shares during the period. Finally, Cibc World Markets Corp boosted its stake in ConocoPhillips by 29.7% in the 4th quarter. Cibc World Markets Corp now owns 204,596 shares of the energy producer’s stock worth $20,290,000 after purchasing an additional 46,837 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on COP. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Trading Up 0.5 %

Shares of NYSE:COP opened at $99.42 on Tuesday. The stock has a market capitalization of $126.50 billion, a PE ratio of 12.76, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The firm has a fifty day moving average price of $99.22 and a 200 day moving average price of $103.65. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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%. Analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Insiders Place Their Bets

In other news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

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.