Hoey Investments Inc. Buys 631 Shares of ConocoPhillips (NYSE:COP)

Hoey Investments Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 779.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 712 shares of the energy producer’s stock after purchasing an additional 631 shares during the quarter. Hoey Investments Inc.’s holdings in ConocoPhillips were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bridgewater Associates LP grew its position in ConocoPhillips by 58.9% during the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after acquiring an additional 1,141 shares during the last quarter. Semmax Financial Advisors Inc. grew its holdings in shares of ConocoPhillips by 10.9% during the third quarter. Semmax Financial Advisors Inc. now owns 10,851 shares of the energy producer’s stock worth $1,209,000 after purchasing an additional 1,070 shares during the last quarter. True Wealth Design LLC increased its stake in shares of ConocoPhillips by 89.3% in the third quarter. True Wealth Design LLC now owns 653 shares of the energy producer’s stock valued at $69,000 after buying an additional 308 shares during the period. Erste Asset Management GmbH acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $7,017,000. Finally, FSA Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter valued at approximately $108,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COP shares. JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Trading Down 0.4 %

COP opened at $102.37 on Monday. The company has a fifty day moving average price of $98.95 and a two-hundred day moving average price of $103.28. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a market cap of $130.26 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued 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 return on equity of 17.26% and a net margin of 16.23%. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal 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 issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 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.