Marble Wealth LLC Invests $3.14 Million in ConocoPhillips $COP

Key Points

• Marble Wealth LLC initiated a new position in ConocoPhillips during the fourth quarter, buying 33,510 shares worth about $3.14 million.
• ConocoPhillips reported strong quarterly results, with EPS of $1.89 beating estimates and revenue of $15.76 billion slightly topping expectations, though revenue was down 6.1% year over year.
• The company also paid a quarterly dividend of $0.84 per share, equal to a 2.9% yield, while analysts remain generally upbeat with an average rating of Moderate Buy and a $134.48 price target.

Marble Wealth LLC purchased a new position in ConocoPhillips (NYSE:COP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 33,510 shares of the energy producer's stock, valued at approximately $3,137,000.

A number of other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its position in ConocoPhillips by 9.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 1,521 shares of the energy producer's stock worth $142,000 after buying an additional 137 shares in the last quarter. Westpac Banking Corp lifted its position in ConocoPhillips by 12.6% during the fourth quarter. Westpac Banking Corp now owns 12,154 shares of the energy producer's stock worth $1,138,000 after buying an additional 1,363 shares in the last quarter. Bridges Investment Management Inc. lifted its position in ConocoPhillips by 6.9% during the fourth quarter. Bridges Investment Management Inc. now owns 19,553 shares of the energy producer's stock worth $1,830,000 after buying an additional 1,258 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in ConocoPhillips by 23.0% during the fourth quarter. Greenwich Wealth Management LLC now owns 2,890 shares of the energy producer's stock worth $271,000 after buying an additional 541 shares in the last quarter. Finally, Calton & Associates Inc. lifted its position in ConocoPhillips by 3.3% during the fourth quarter. Calton & Associates Inc. now owns 6,946 shares of the energy producer's stock worth $650,000 after buying an additional 224 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE:COP opened at $116.78 on Wednesday. ConocoPhillips has a 52 week low of $85.23 and a 52 week high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $142.27 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.30 and a beta of 0.11. The stock's fifty day moving average is $122.88 and its two-hundred day moving average is $108.78.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 EPS. Equities analysts expect that ConocoPhillips will post 9.92 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips's payout ratio is currently 57.05%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Citigroup lifted their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Sanford C. Bernstein lifted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. UBS Group lifted their price objective on ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on ConocoPhillips from $98.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $134.48.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the business's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the sale, the senior vice president owned 17,469 shares in the company, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips 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.

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