Hurley Capital LLC Buys Shares of 600 ConocoPhillips (NYSE:COP)

Hurley Capital LLC purchased a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 600 shares of the energy producer’s stock, valued at approximately $61,000.

A number of other large investors also recently modified their holdings of COP. Vanguard Group Inc. increased its stake in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Geode Capital Management LLC raised its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $232,859,000. Finally, Franklin Resources Inc. grew its stake in ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after buying an additional 1,506,599 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.18 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $98.53 and a 200 day moving average of $103.10. The firm has a market capitalization of $108.95 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 52 week low of $85.55 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COP. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research note on Thursday, January 30th. Finally, Barclays decreased their price target 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. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

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.