Advisory Alpha LLC Raises Position in ConocoPhillips (NYSE:COP)

Advisory Alpha LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 57.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,234 shares of the energy producer’s stock after buying an additional 5,558 shares during the quarter. Advisory Alpha LLC’s holdings in ConocoPhillips were worth $1,511,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Global Wealth Strategies & Associates lifted its holdings in 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. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at about $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP stock opened at $104.25 on Wednesday. The company has a 50-day simple moving average of $103.67 and a 200 day simple moving average of $107.31. The company has a market capitalization of $119.98 billion, a P/E ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company reduced their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $136.00.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % 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

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.