Marble Wealth LLC purchased a new position in ConocoPhillips (NYSE:COP – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 33,510 shares of the energy producer’s stock, valued at approximately $3,137,000.
A number of other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its position in ConocoPhillips by 9.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 1,521 shares of the energy producer’s stock worth $142,000 after buying an additional 137 shares in the last quarter. Westpac Banking Corp lifted its position in ConocoPhillips by 12.6% during the fourth quarter. Westpac Banking Corp now owns 12,154 shares of the energy producer’s stock worth $1,138,000 after buying an additional 1,363 shares in the last quarter. Bridges Investment Management Inc. lifted its position in ConocoPhillips by 6.9% during the fourth quarter. Bridges Investment Management Inc. now owns 19,553 shares of the energy producer’s stock worth $1,830,000 after buying an additional 1,258 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in ConocoPhillips by 23.0% during the fourth quarter. Greenwich Wealth Management LLC now owns 2,890 shares of the energy producer’s stock worth $271,000 after buying an additional 541 shares in the last quarter. Finally, Calton & Associates Inc. lifted its position in ConocoPhillips by 3.3% during the fourth quarter. Calton & Associates Inc. now owns 6,946 shares of the energy producer’s stock worth $650,000 after buying an additional 224 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips Price Performance
NYSE:COP opened at $116.78 on Wednesday. ConocoPhillips has a 52 week low of $85.23 and a 52 week high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $142.27 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.30 and a beta of 0.11. The stock’s fifty day moving average is $122.88 and its two-hundred day moving average is $108.78.
ConocoPhillips Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.
Analyst Upgrades and Downgrades
COP has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Citigroup lifted their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Sanford C. Bernstein lifted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. UBS Group lifted their price objective on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $134.48.
View Our Latest Report on ConocoPhillips
Insider Transactions at ConocoPhillips
In related news, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the sale, the senior vice president owned 17,469 shares in the company, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by corporate insiders.
ConocoPhillips Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
Featured Stories
- Five stocks we like better than ConocoPhillips
- Marvell Stock Soars on NVIDIA’s Trillion-Dollar Nod
- FirstCash Turns Pawn Into a Growth Machine
- HubSpot Just Crushed the Bear Case—Is a Bigger Rally Ahead?
- Aggressive Insider Buying Signals Opportunity in 3 Risky Stocks
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP – Free Report).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.
