ConocoPhillips (NYSE:COP) Stock Position Lifted by Stonegate Investment Group LLC

Stonegate Investment Group LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,326 shares of the energy producer’s stock after purchasing an additional 949 shares during the quarter. Stonegate Investment Group LLC’s holdings in ConocoPhillips were worth $5,288,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter worth $26,000. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the third quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

Shares of ConocoPhillips stock opened at $102.73 on Tuesday. The stock has a 50-day moving average price of $102.98 and a 200 day moving average price of $107.06. The company has a market cap of $118.23 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. 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 (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. 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 3.04%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COP shares. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Raymond James raised their target price on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $135.89.

Insiders Place Their Bets

In related news, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were acquired 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 approximately $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $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.