ConocoPhillips (NYSE:COP) Shares Bought by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 51.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,074 shares of the energy producer’s stock after purchasing an additional 4,782 shares during the quarter. Mach 1 Financial Group LLC’s holdings in ConocoPhillips were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Counsel Inc acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $228,000. Columbia Trust Co 01012016 increased its holdings in shares of ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the period. Raymond James & Associates increased its holdings in shares of ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after acquiring an additional 23,572 shares during the period. Syon Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $2,262,000. Finally, PFG Investments LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $233,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $4.60 on Tuesday, hitting $125.62. The company’s stock had a trading volume of 6,288,234 shares, compared to its average volume of 5,343,554. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $123.20 and a 200-day moving average price of $117.67. The company has a market capitalization of $147.78 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the firm earned $2.71 EPS. On average, equities research analysts expect that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.48%. ConocoPhillips’s payout ratio is currently 25.61%.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on COP shares. Truist Financial cut their target price on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Monday. UBS Group lifted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Raymond James lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Piper Sandler lifted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.65.

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.