ConocoPhillips $COP Stock Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 84.4% in the third quarter, HoldingsChannel reports. The fund owned 157,793 shares of the energy producer’s stock after buying an additional 72,218 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in ConocoPhillips were worth $19,748,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its position in ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after buying an additional 50,116,727 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of ConocoPhillips during the 2nd quarter worth about $1,260,482,000. Primecap Management Co. CA bought a new stake in shares of ConocoPhillips during the 2nd quarter worth about $1,204,726,000. Assenagon Asset Management S.A. raised its position in shares of ConocoPhillips by 1,181.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,172,490 shares of the energy producer’s stock worth $1,022,787,000 after buying an additional 7,534,536 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $716,151,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Stifel Nicolaus assumed coverage on ConocoPhillips in a report on Thursday, September 10th. They set a “hold” rating and a $148.00 target price on the stock. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Truist Financial increased their price target on ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Finally, Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

ConocoPhillips Trading Down 0.1%

ConocoPhillips stock opened at $145.77 on Thursday. The firm has a market cap of $175.12 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $147.41. The firm’s 50 day moving average price is $133.34 and its two-hundred day moving average price is $122.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 11.19 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. ConocoPhillips’s payout ratio is 44.44%.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.