Raleigh Capital Management Inc. Raises Position in ConocoPhillips (NYSE:COP)

Raleigh Capital Management Inc. lifted its holdings in ConocoPhillips (NYSE:COPFree Report) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,662 shares of the energy producer’s stock after purchasing an additional 238 shares during the quarter. Raleigh Capital Management Inc.’s holdings in ConocoPhillips were worth $760,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in COP. Albion Financial Group UT raised its holdings in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter worth $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.2 %

Shares of COP opened at $103.02 on Thursday. The stock has a fifty day simple moving average of $103.36 and a two-hundred day simple moving average of $107.22. 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 market capitalization of $118.57 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COPGet Free Report) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the business posted $2.16 EPS. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 7.68 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. 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 3.03%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COP. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $136.00.

Read Our Latest Research Report on COP

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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