Lakewood Asset Management LLC Purchases 128 Shares of ConocoPhillips (NYSE:COP)

Lakewood Asset Management LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 29,182 shares of the energy producer’s stock after purchasing an additional 128 shares during the quarter. ConocoPhillips comprises 2.0% of Lakewood Asset Management LLC’s holdings, making the stock its 13th biggest position. Lakewood Asset Management LLC’s holdings in ConocoPhillips were worth $2,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COP. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth $31,000. Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips in the third quarter valued at about $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COP shares. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company decreased their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Barclays upped their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $136.65.

Insider Activity

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, 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. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $105.45 on Thursday. The business has a fifty day moving average of $104.21 and a 200 day moving average of $107.56. The firm has a market capitalization of $121.36 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. As a group, research analysts expect that ConocoPhillips will post 7.7 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. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.96%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.