Syon Capital LLC lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,139 shares of the energy producer's stock after buying an additional 7,260 shares during the period. Syon Capital LLC's holdings in ConocoPhillips were worth $3,034,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. RFG Advisory LLC raised its holdings in shares of ConocoPhillips by 14.4% during the third quarter. RFG Advisory LLC now owns 5,077 shares of the energy producer's stock worth $608,000 after acquiring an additional 640 shares in the last quarter. Park Place Capital Corp raised its holdings in ConocoPhillips by 12.9% during the third quarter. Park Place Capital Corp now owns 4,377 shares of the energy producer's stock valued at $524,000 after buying an additional 499 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in ConocoPhillips during the third quarter valued at about $44,000. Washington Trust Advisors Inc. raised its holdings in ConocoPhillips by 211.3% during the third quarter. Washington Trust Advisors Inc. now owns 442 shares of the energy producer's stock valued at $53,000 after buying an additional 300 shares in the last quarter. Finally, Marion Wealth Management raised its holdings in ConocoPhillips by 1.2% during the third quarter. Marion Wealth Management now owns 11,157 shares of the energy producer's stock valued at $1,337,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.
ConocoPhillips Stock Performance
COP stock traded up $0.12 during trading on Friday, reaching $130.23. 4,822,904 shares of the stock were exchanged, compared to its average volume of 5,349,431. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a market capitalization of $153.20 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The stock has a 50 day simple moving average of $122.49 and a 200-day simple moving average of $117.64. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.
ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the previous year, the business earned $2.71 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current year.
ConocoPhillips Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips's payout ratio is presently 25.61%.
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company's stock, valued at $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an "overweight" rating and a $158.00 target price on the stock. Mizuho restated a "neutral" rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Susquehanna raised their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a "positive" rating in a report on Monday. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Finally, Piper Sandler lifted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an "overweight" rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.24.
View Our Latest Stock Report on ConocoPhillips
ConocoPhillips Profile
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Free Report)
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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