Hurley Capital LLC Acquires New Position in ConocoPhillips (NYSE:COP)

Hurley Capital LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 600 shares of the energy producer’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Perennial Investment Advisors LLC lifted its holdings in shares of ConocoPhillips by 26.7% during the fourth quarter. Perennial Investment Advisors LLC now owns 4,852 shares of the energy producer’s stock valued at $481,000 after purchasing an additional 1,021 shares in the last quarter. Aviva PLC lifted its stake in ConocoPhillips by 12.2% during the 4th quarter. Aviva PLC now owns 50,453 shares of the energy producer’s stock valued at $5,003,000 after acquiring an additional 5,472 shares during the period. KCM Investment Advisors LLC grew its stake in shares of ConocoPhillips by 13.2% in the fourth quarter. KCM Investment Advisors LLC now owns 11,614 shares of the energy producer’s stock worth $1,152,000 after acquiring an additional 1,351 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $37,494,000. Finally, First Western Trust Bank bought a new position in ConocoPhillips during the fourth quarter valued at approximately $216,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 9.5 %

Shares of COP opened at $86.18 on Friday. ConocoPhillips has a 12-month low of $85.55 and a 12-month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $108.95 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The business’s 50 day moving average is $98.53 and its 200 day moving average is $103.10.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.62%. ConocoPhillips’s payout ratio is 40.05%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley lowered their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.95.

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.