By otakuyassine3@gmail.com 
Edgestream Partners L.P. purchased a new position in shares of ConocoPhillips (NYSE:COP – Free Report) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,065 shares of the energy producer’s stock, valued at approximately $601,000.
Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC lifted its holdings in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after acquiring an additional 31,011 shares during the period. Leavell Investment Management Inc. raised its stake in shares of ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management raised its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the period. Prospera Financial Services Inc raised its stake in shares of ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after buying an additional 46,621 shares during the period. 82.36% of the stock is currently owned by institutional investors.
Insider Transactions at ConocoPhillips
In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.
ConocoPhillips Price Performance
ConocoPhillips stock opened at $97.64 on Thursday. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The business has a 50-day simple moving average of $99.34 and a 200 day simple moving average of $104.03. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $124.24 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.79 and a beta of 1.12.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.
Analyst Ratings Changes
COP has been the topic of several research reports. Truist Financial boosted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research note on Thursday, January 30th. TD Cowen initiated coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.
Check Out Our Latest Research Report on ConocoPhillips
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.
See Also
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