Kathmere Capital Management LLC Acquires 519 Shares of ConocoPhillips (NYSE:COP)

Kathmere Capital Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,118 shares of the energy producer’s stock after acquiring an additional 519 shares during the quarter. Kathmere Capital Management LLC’s holdings in ConocoPhillips were worth $309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the third quarter worth $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the third quarter valued at $31,000. RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the third quarter valued at $35,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.1 %

NYSE:COP opened at $105.62 on Friday. The firm has a 50-day simple moving average of $104.05 and a 200-day simple moving average of $107.54. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The firm has a market cap of $121.56 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 7.7 EPS for the current fiscal 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 paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on COP shares. Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $136.65.

About ConocoPhillips

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.