Alta Advisers Ltd Purchases 1,012 Shares of ConocoPhillips (NYSE:COP)

Alta Advisers Ltd lifted its holdings in ConocoPhillips (NYSE:COP) by 29.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,412 shares of the energy producer’s stock after acquiring an additional 1,012 shares during the period. Alta Advisers Ltd’s holdings in ConocoPhillips were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morse Asset Management Inc acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at $805,000. Anchor Investment Management LLC grew its stake in shares of ConocoPhillips by 5.5% in the 3rd quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock valued at $1,192,000 after buying an additional 589 shares during the period. Fulcrum Equity Management increased its position in ConocoPhillips by 24.1% in the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock valued at $625,000 after buying an additional 1,155 shares in the last quarter. World Investment Advisors LLC boosted its holdings in ConocoPhillips by 746.7% in the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after acquiring an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in ConocoPhillips in the third quarter valued at approximately $11,549,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Morgan Stanley reissued an “overweight” rating and issued a $116.00 price target on shares of ConocoPhillips in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price 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. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. UBS Group decreased their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.32.

ConocoPhillips Stock Performance

NYSE:COP opened at $87.64 on Tuesday. The company has a market capitalization of $110.79 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.79 and a beta of 0.83. The business has a fifty day simple moving average of $95.03 and a two-hundred day simple moving average of $101.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $130.77.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS 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%. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. 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.