Kennedy Investment Group Buys 9,359 Shares of ConocoPhillips (NYSE:COP)

Kennedy Investment Group boosted its position in shares of ConocoPhillips (NYSE:COP) by 167.0% during the 4th quarter, HoldingsChannel reports. The fund owned 14,964 shares of the energy producer’s stock after buying an additional 9,359 shares during the quarter. Kennedy Investment Group’s holdings in ConocoPhillips were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at ConocoPhillips

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

ConocoPhillips Stock Down 1.2 %

Shares of NYSE:COP opened at $101.46 on Wednesday. The company has a 50 day moving average price of $102.76 and a two-hundred day moving average price of $106.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $116.78 billion, a PE ratio of 12.06, a PEG ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.07%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Piper Sandler lowered their target price 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. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. 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 data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and an average price target of $135.89.

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.