WCG Wealth Advisors LLC Has $2.67 Million Stake in ConocoPhillips $COP

Key Points

• WCG Wealth Advisors LLC increased its stake in ConocoPhillips by 23.1%, holding 25,408 shares worth approximately $2.67 million as of Q1 2023.
• Multiple institutional investors, including Charles Schwab and Goldman Sachs, significantly boosted their positions in ConocoPhillips, with Charles Schwab raising its holdings by 379.7%.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, reflecting an annualized yield of 3.2%, with the payment scheduled for September 2nd.

WCG Wealth Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 23.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,408 shares of the energy producer's stock after purchasing an additional 4,766 shares during the quarter. WCG Wealth Advisors LLC's holdings in ConocoPhillips were worth $2,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP raised its position in ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock valued at $3,319,746,000 after buying an additional 437,709 shares during the last quarter. Northern Trust Corp raised its position in ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after buying an additional 2,971,661 shares during the last quarter. Goldman Sachs Group Inc. raised its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after buying an additional 2,080,625 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock valued at $861,490,000 after buying an additional 1,073,906 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on COP shares. Mizuho decreased their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price for the company. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Scotiabank raised their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Trading Up 1.9%

Shares of COP opened at $96.6240 on Monday. The business has a 50-day moving average of $93.80 and a 200 day moving average of $93.18. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The firm has a market cap of $120.68 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 2.53 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm posted $1.98 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 18th. ConocoPhillips's payout ratio is currently 41.88%.

ConocoPhillips Company 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.

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