Wealth Enhancement Advisory Services LLC Has $28.27 Million Position in ConocoPhillips (NYSE:COP)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 269,154 shares of the energy producer’s stock after acquiring an additional 34,284 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ConocoPhillips were worth $28,267,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Gray Wealth Management Inc. grew its stake in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after acquiring an additional 104 shares in the last quarter. Plancorp LLC grew its stake in shares of ConocoPhillips by 2.7% in the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock valued at $399,000 after acquiring an additional 104 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of ConocoPhillips by 3.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock valued at $289,000 after acquiring an additional 105 shares in the last quarter. Councilmark Asset Management LLC grew its stake in shares of ConocoPhillips by 0.5% in the fourth quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer’s stock valued at $1,948,000 after acquiring an additional 106 shares in the last quarter. Finally, Second Line Capital LLC grew its stake in ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock worth $495,000 after buying an additional 108 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Mizuho reduced their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. reduced 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. Finally, Piper Sandler reduced their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.30.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

ConocoPhillips Trading Up 1.0%

COP opened at $94.76 on Friday. The company’s 50 day moving average is $89.65 and its 200-day moving average is $95.52. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The company has a market cap of $119.79 billion, a P/E ratio of 12.04, a PEG ratio of 2.54 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the business earned $2.05 EPS. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.29%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

ConocoPhillips 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.