Sovran Advisors LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Sovran Advisors LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 8,354 shares of the energy producer’s stock, valued at approximately $876,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter valued at $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates increased its stake in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company cut their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.72.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

ConocoPhillips Price Performance

NYSE COP opened at $101.72 on Wednesday. The company has a 50-day moving average price of $100.91 and a 200-day moving average price of $106.03. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $117.08 billion, a P/E ratio of 13.06, a PEG ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.07%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.