Hengehold Capital Management LLC Buys 181 Shares of ConocoPhillips (NYSE:COP)

Hengehold Capital Management LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 8.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,327 shares of the energy producer’s stock after acquiring an additional 181 shares during the quarter. Hengehold Capital Management LLC’s holdings in ConocoPhillips were worth $231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Capital Group lifted its position in ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after buying an additional 96 shares during the last quarter. Aprio Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after acquiring an additional 97 shares during the last quarter. Smithfield Trust Co boosted its stake in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC grew its holdings in shares of ConocoPhillips by 1.0% during the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after purchasing an additional 102 shares during the last quarter. Finally, Asset Dedication LLC raised its position in ConocoPhillips by 2.5% in the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock worth $442,000 after purchasing an additional 102 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $101.88 on Friday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock’s 50 day simple moving average is $103.19 and its two-hundred day simple moving average is $107.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $117.26 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly 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. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share. As a group, analysts expect that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $135.89.

Insider Buying and Selling

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought 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 directly 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. 0.34% of the stock is owned by company insiders.

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.