Atomi Financial Group Inc. lowered its stake in ConocoPhillips (NYSE:COP – Free Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,321 shares of the energy producer’s stock after selling 1,039 shares during the quarter. Atomi Financial Group Inc.’s holdings in ConocoPhillips were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Signature Resources Capital Management LLC grew its position in ConocoPhillips by 31.2% during the fourth quarter. Signature Resources Capital Management LLC now owns 790 shares of the energy producer’s stock valued at $78,000 after purchasing an additional 188 shares in the last quarter. Monterey Private Wealth Inc. increased its stake in shares of ConocoPhillips by 8.4% in the fourth quarter. Monterey Private Wealth Inc. now owns 4,720 shares of the energy producer’s stock worth $468,000 after acquiring an additional 364 shares during the last quarter. Transform Wealth LLC acquired a new stake in ConocoPhillips during the fourth quarter valued at $1,083,000. Alpha Cubed Investments LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $202,000. Finally, Clear Harbor Asset Management LLC acquired a new position in ConocoPhillips in the 4th quarter worth about $224,000. Institutional investors and hedge funds own 82.36% of the company’s stock.
Wall Street Analyst Weigh In
COP has been the topic of a number of research reports. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $136.00.
Insider Activity
In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was 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 corporate insiders.
ConocoPhillips Price Performance
Shares of NYSE:COP opened at $103.02 on Thursday. The business’s 50 day moving average is $103.54 and its 200-day moving average is $107.25. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $118.57 billion, a PE ratio of 12.25, a PEG ratio of 0.88 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 7.68 earnings per share for the current year.
ConocoPhillips Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.
About ConocoPhillips
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.
Read More
- Five stocks we like better than ConocoPhillips
- How to Calculate Return on Investment (ROI)
- Oracle Announces Game-Changing News for the AI Industry
- The Role Economic Reports Play in a Successful Investment Strategy
- Netflix Adds 19 Million Subscribers, Growth Is Far From Over
- Stock Splits, Do They Really Impact Investors?
- Tempus AI: A Game-Changer in AI-Powered Healthcare
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP – Free Report).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.