ConocoPhillips (NYSE:COP) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 108,706 shares of the energy producer’s stock after purchasing an additional 5,153 shares during the quarter. Tidal Investments LLC’s holdings in ConocoPhillips were worth $10,780,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COP. Tallon Kerry Patrick acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $511,000. Wealthcare Advisory Partners LLC boosted its stake in shares of ConocoPhillips by 20.3% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 12,051 shares of the energy producer’s stock worth $1,195,000 after purchasing an additional 2,037 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of ConocoPhillips by 18.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,561 shares of the energy producer’s stock worth $254,000 after purchasing an additional 393 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of ConocoPhillips by 47.7% in the fourth quarter. Merit Financial Group LLC now owns 28,077 shares of the energy producer’s stock worth $2,784,000 after acquiring an additional 9,068 shares during the last quarter. Finally, Sax Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 9.8% in the fourth quarter. Sax Wealth Advisors LLC now owns 2,690 shares of the energy producer’s stock worth $267,000 after acquiring an additional 241 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.7%

COP stock opened at $92.34 on Monday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $116.73 billion, a P/E ratio of 11.85, a PEG ratio of 0.79 and a beta of 0.64. The firm has a 50 day simple moving average of $93.24 and a 200-day simple moving average of $98.96.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the company earned $2.05 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Scotiabank cut their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and cut their price target for the company from $138.00 to $107.00 in a report on Tuesday, April 29th. Finally, Piper Sandler cut their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.74.

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.