ConocoPhillips (NYSE:COP) Shares Bought by Simon Quick Advisors LLC

Simon Quick Advisors LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 10.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,695 shares of the energy producer’s stock after buying an additional 524 shares during the period. Simon Quick Advisors LLC’s holdings in ConocoPhillips were worth $565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of COP. Cypress Capital Group raised its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares in the last quarter. Aprio Wealth Management LLC increased its holdings in shares of ConocoPhillips by 4.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares in the last quarter. Smithfield Trust Co lifted its stake in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC boosted its holdings in ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after buying an additional 102 shares in the last quarter. Finally, Asset Dedication LLC grew its position in ConocoPhillips by 2.5% during the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions 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 shares were purchased 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 approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on COP. Scotiabank lowered their target price 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. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $136.00.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $103.02 on Thursday. The business’s 50 day moving average price is $103.54 and its 200 day moving average price is $107.25. The company has a market cap of $118.57 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 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 business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 7.68 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.03%. ConocoPhillips’s dividend payout ratio is 37.10%.

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.