Apollon Wealth Management LLC Increases Stock Holdings in ConocoPhillips (NYSE:COP)

Apollon Wealth Management LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 98.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,510 shares of the energy producer’s stock after purchasing an additional 12,170 shares during the period. Apollon Wealth Management LLC’s holdings in ConocoPhillips were worth $2,845,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. Sloy Dahl & Holst LLC lifted its position in shares of ConocoPhillips by 3.3% during the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after purchasing an additional 85 shares during the last quarter. KLCM Advisors Inc. increased its holdings in shares of ConocoPhillips by 2.8% in the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after acquiring an additional 89 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after acquiring an additional 89 shares in the last quarter. Endowment Wealth Management Inc. lifted its stake in ConocoPhillips by 4.6% during the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after purchasing an additional 90 shares during the last quarter. Finally, Your Advocates Ltd. LLP boosted its holdings in ConocoPhillips by 2.9% in the third quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock worth $400,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last three months. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COP shares. Scotiabank increased their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Truist Financial lowered their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.76.

ConocoPhillips Price Performance

NYSE:COP traded down $0.01 during trading hours on Tuesday, reaching $123.54. 5,901,955 shares of the company’s stock were exchanged, compared to its average volume of 5,368,249. The company has a market capitalization of $144.48 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. ConocoPhillips has a 12 month low of $97.42 and a 12 month high of $135.18. The business’s 50-day simple moving average is $124.07 and its two-hundred day simple moving average is $117.59. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. During the same period in the previous year, the firm earned $2.71 earnings per share. Sell-side analysts expect that ConocoPhillips will post 9.1 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.