Pallas Capital Advisors LLC Has $956,000 Holdings in ConocoPhillips (NYSE:COP)

Pallas Capital Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,638 shares of the energy producer’s stock after purchasing an additional 2,313 shares during the quarter. Pallas Capital Advisors LLC’s holdings in ConocoPhillips were worth $956,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares in the company, valued at $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 corporate insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $104.29 on Tuesday. The firm has a market capitalization of $120.03 billion, a PE ratio of 12.40, a P/E/G ratio of 0.83 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $104.30 and a two-hundred day moving average price of $107.63. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. Equities analysts forecast that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed 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 of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.99%. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Truist Financial lifted 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. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Two 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 company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $136.76.

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.