SVB Wealth LLC Has $2.84 Million Stock Holdings in ConocoPhillips (NYSE:COP)

SVB Wealth LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 16.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,464 shares of the energy producer’s stock after buying an additional 3,466 shares during the quarter. SVB Wealth LLC’s holdings in ConocoPhillips were worth $2,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its holdings in shares of ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares during the last quarter. Morgan Stanley boosted its position in ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after buying an additional 3,497,750 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of ConocoPhillips during the third quarter worth $310,102,000. Cowa LLC grew its stake in shares of ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after buying an additional 2,339,100 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of ConocoPhillips in the 4th quarter valued at $186,330,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Barclays began coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Morgan Stanley boosted their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group upped their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Truist Financial cut their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Susquehanna decreased their price target on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Five research 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 stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $140.59.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.9 %

Shares of NYSE COP opened at $128.31 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a 50-day moving average price of $119.92 and a 200-day moving average price of $117.01. The stock has a market capitalization of $150.95 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.77 and a beta of 1.24. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the previous year, the business earned $2.71 EPS. On average, equities research analysts forecast that ConocoPhillips will post 9.35 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

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.