BXM Wealth LLC Raises Stake in ConocoPhillips $COP

BXM Wealth LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 691.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,016 shares of the energy producer’s stock after acquiring an additional 34,961 shares during the period. BXM Wealth LLC’s holdings in ConocoPhillips were worth $3,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Howard Hughes Medical Institute purchased a new position in shares of ConocoPhillips during the second quarter valued at approximately $25,000. Cloud Capital Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $26,000. Strive Asset Management LLC bought a new position in ConocoPhillips during the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips during the 4th quarter valued at approximately $28,000. Finally, Cedar Mountain Advisors LLC raised its stake in ConocoPhillips by 58.0% during the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Citigroup raised its price target on COP to $150 and kept a Buy rating, backing a meaningful upside case versus recent levels and providing institutional support. Citigroup Raises Target
• Positive Sentiment: Some brokerages/upgrades (Zacks/others) and a positive forecast note have improved headline analyst sentiment, which can support flows and valuation expectations. Analyst Forecast
• Neutral Sentiment: Macro and sector coverage pieces (e.g., takeaways that oil stocks may be “tapped out”) are driving headlines and trading volatility but do not change COP’s fundamentals immediately. Barron’s Sector Note
• Negative Sentiment: CEO Ryan Lance sold 113,221 shares (~$15M) at ~ $132.71 on Mar 31, a sizable insider sale that can be perceived negatively by investors watching insider signals even if done for personal reasons. CEO Sale
• Negative Sentiment: Analyst rotation toward Diamondback Energy and its recognition on “top oil picks” lists highlights investor preference for shale growth/production discipline, which can divert investor dollars away from larger diversified producers like COP. Diamondback vs COP
• Negative Sentiment: Short‑term oil-market moves (recent unwind of a geopolitical premium) trimmed the sector and pressured oil-weighted names, a macro headwind for COP until crude stabilizes. Market Effects

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. Susquehanna increased their target price on ConocoPhillips from $115.00 to $121.00 and gave the stock a “positive” rating in a research note on Friday, February 6th. Bank of America reaffirmed an “underperform” rating and issued a $102.00 price target on shares of ConocoPhillips in a research report on Friday, January 16th. Piper Sandler upped their price target on shares of ConocoPhillips from $111.00 to $154.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Wolfe Research raised their price objective on shares of ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.36.

ConocoPhillips Stock Down 0.1%

ConocoPhillips stock opened at $130.37 on Monday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $135.87. The stock has a fifty day simple moving average of $115.93 and a two-hundred day simple moving average of $100.48. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The firm has a market cap of $158.90 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.53 and a beta of 0.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.84 per share. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 annualized dividend and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is currently 53.00%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the sale, the director owned 411,211 shares of the company’s stock, valued at $48,847,754.69. This trade represents a 8.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the sale, the executive vice president owned 12,389 shares of the company’s stock, valued at $1,478,751.04. This represents a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 734,891 shares of company stock worth $93,345,692. 0.24% of the stock is owned by company insiders.

ConocoPhillips Company Profile

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.