Commons Capital LLC Increases Holdings in ConocoPhillips (NYSE:COP)

Commons Capital LLC grew its holdings in ConocoPhillips (NYSE:COP) by 14.4% during the fourth quarter, HoldingsChannel reports. The fund owned 2,829 shares of the energy producer’s stock after purchasing an additional 356 shares during the period. Commons Capital LLC’s holdings in ConocoPhillips were worth $281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the third quarter valued at $31,000. RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips in the third quarter valued at $35,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays upped their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $136.00.

ConocoPhillips Stock Performance

NYSE:COP opened at $104.25 on Wednesday. The firm has a 50-day moving average of $103.67 and a two-hundred day moving average of $107.31. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market cap of $119.98 billion, a P/E ratio of 12.40, 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) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the business earned $2.16 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.99%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average price 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 position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.