Fortitude Family Office LLC Purchases 166 Shares of ConocoPhillips (NYSE:COP)

Fortitude Family Office LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 11.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,655 shares of the energy producer’s stock after buying an additional 166 shares during the quarter. Fortitude Family Office LLC’s holdings in ConocoPhillips were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Excalibur Management Corp grew its position in shares of ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 96 shares during the last quarter. Cypress Capital Group boosted its stake in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Aprio Wealth Management LLC grew its holdings in ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after buying an additional 97 shares during the last quarter. Greenwich Wealth Management LLC increased its position in ConocoPhillips by 4.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock worth $295,000 after buying an additional 99 shares during the period. Finally, MRP Capital Investments LLC lifted its holdings in shares of ConocoPhillips by 4.3% during the second quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock worth $278,000 after buying an additional 100 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 0.2 %

Shares of COP stock opened at $101.48 on Friday. The company has a market capitalization of $116.79 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month 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 50-day moving average price of $104.51 and a 200 day moving average price of $107.88.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. Research analysts forecast that ConocoPhillips will post 7.77 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. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $136.71.

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.