Belpointe Asset Management LLC Has $1.53 Million Holdings in ConocoPhillips $COP

Belpointe Asset Management LLC raised its holdings in ConocoPhillips (NYSE:COP) by 167.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,217 shares of the energy producer’s stock after buying an additional 10,158 shares during the period. Belpointe Asset Management LLC’s holdings in ConocoPhillips were worth $1,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $25,000. Bogart Wealth LLC raised its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management lifted its position in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares during the period. Cedar Mountain Advisors LLC grew its holdings in shares of ConocoPhillips by 58.0% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Finally, BNP Paribas bought a new position in shares of ConocoPhillips in the second quarter worth $33,000. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COP. Raymond James Financial increased their price objective on shares of ConocoPhillips from $98.00 to $113.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. BMO Capital Markets reduced their price target on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Wolfe Research upped their target price on ConocoPhillips from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their price target for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Sixteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.96.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Mcraven purchased 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.24% of the stock is owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $101.47 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm’s fifty day moving average is $94.06 and its 200-day moving average is $93.11. The firm has a market cap of $125.39 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 3.16 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. ConocoPhillips’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $0.84 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio is currently 47.52%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.