Sonora Investment Management Group LLC Acquires 3,649 Shares of ConocoPhillips (NYSE:COP)

Sonora Investment Management Group LLC grew its holdings in ConocoPhillips (NYSE:COP) by 59.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,771 shares of the energy producer’s stock after purchasing an additional 3,649 shares during the quarter. Sonora Investment Management Group LLC’s holdings in ConocoPhillips were worth $969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tidal Investments LLC boosted its position in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after acquiring an additional 31,011 shares in the last quarter. Brookstone Capital Management lifted its position in shares of ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the last quarter. Prospera Financial Services Inc grew its position in shares of ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after buying an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 0.1 %

COP stock opened at $101.41 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $116.72 billion, a P/E ratio of 12.06, a PEG ratio of 0.78 and a beta of 1.19. The company’s 50-day simple moving average is $102.29 and its 200-day simple moving average is $106.86.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 7.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $135.89.

Insider Activity

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.