Parisi Gray Wealth Management Buys 2,083 Shares of ConocoPhillips (NYSE:COP)

Parisi Gray Wealth Management boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 98.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,208 shares of the energy producer’s stock after acquiring an additional 2,083 shares during the period. Parisi Gray Wealth Management’s holdings in ConocoPhillips were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at about $27,000. RVW Wealth LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at about $28,000. West Tower Group LLC purchased a new stake in shares of ConocoPhillips during the second quarter valued at about $27,000. Oliver Lagore Vanvalin Investment Group lifted its position in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after buying an additional 111 shares during the last quarter. Finally, Fairfield Bush & CO. purchased a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $31,000. 82.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. Scotiabank increased their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Susquehanna cut their price target on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Mizuho reiterated a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Finally, UBS Group lifted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $135.12.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.16 during mid-day trading on Thursday, reaching $127.00. The stock had a trading volume of 363,197 shares, compared to its average volume of 5,704,928. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $128.64. The company has a market cap of $149.40 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. The business has a 50-day simple moving average of $113.49 and a 200 day simple moving average of $116.01. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the company earned $2.71 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is 25.61%.

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.