Catalyst Funds Management Pty Ltd Purchases New Stake in ConocoPhillips (NYSE:COP)

Catalyst Funds Management Pty Ltd bought a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel reports. The fund bought 7,500 shares of the energy producer’s stock, valued at approximately $744,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC boosted its stake in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares during the last quarter. Prospera Financial Services Inc increased its position in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after purchasing an additional 13,595 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after purchasing an additional 46,621 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on COP. Piper Sandler lowered their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Finally, TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Two 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 company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

Insider Activity

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

ConocoPhillips Trading Up 3.0 %

NYSE COP opened at $99.10 on Friday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a 50 day simple moving average of $99.22 and a 200 day simple moving average of $103.81. The stock has a market capitalization of $126.09 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

ConocoPhillips 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.