Ieq Capital LLC Increases Stake in ConocoPhillips (NYSE:COP)

Ieq Capital LLC grew its position in ConocoPhillips (NYSE:COP) by 24.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,027 shares of the energy producer’s stock after acquiring an additional 17,342 shares during the period. Ieq Capital LLC’s holdings in ConocoPhillips were worth $8,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in COP. Albion Financial Group UT boosted its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the third quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter worth about $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s 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 directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated 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 directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

COP stock opened at $102.05 on Friday. The stock has a market capitalization of $117.45 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The stock’s fifty day simple moving average is $100.17 and its 200-day simple moving average is $105.48. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS 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%. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. Susquehanna raised their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $133.56.

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.