Proficio Capital Partners LLC Acquires 2,591 Shares of ConocoPhillips (NYSE:COP)

Proficio Capital Partners LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 21.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,733 shares of the energy producer’s stock after buying an additional 2,591 shares during the quarter. Proficio Capital Partners LLC’s holdings in ConocoPhillips were worth $1,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. SPC Financial Inc. raised its holdings in shares of ConocoPhillips by 7.6% in the 4th quarter. SPC Financial Inc. now owns 3,464 shares of the energy producer’s stock valued at $344,000 after purchasing an additional 246 shares during the period. LVZ Inc. acquired a new position in ConocoPhillips in the 4th quarter valued at about $1,198,000. Assetmark Inc. grew its stake in ConocoPhillips by 27.3% in the 4th quarter. Assetmark Inc. now owns 267,000 shares of the energy producer’s stock valued at $26,478,000 after buying an additional 57,246 shares during the last quarter. Smithfield Trust Co grew its stake in ConocoPhillips by 8.3% in the 4th quarter. Smithfield Trust Co now owns 3,393 shares of the energy producer’s stock valued at $338,000 after buying an additional 261 shares during the last quarter. Finally, Carrera Capital Advisors acquired a new position in ConocoPhillips in the 4th quarter valued at about $375,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, UBS Group decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $102.25 on Friday. The company has a 50 day moving average of $99.21 and a 200-day moving average of $103.53. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $130.09 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.