SteelPeak Wealth LLC Buys 10,332 Shares of ConocoPhillips (NYSE:COP)

SteelPeak Wealth LLC lifted its stake in ConocoPhillips (NYSE:COP) by 214.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,149 shares of the energy producer’s stock after acquiring an additional 10,332 shares during the period. SteelPeak Wealth LLC’s holdings in ConocoPhillips were worth $1,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $26,000. Albion Financial Group UT grew its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter worth $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the 3rd quarter worth $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following 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. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COP shares. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Susquehanna raised their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $135.89.

ConocoPhillips Trading Up 0.1 %

Shares of COP opened at $101.49 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a market cap of $116.81 billion, a PE ratio of 12.07, a PEG ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The stock has a 50 day simple moving average of $102.53 and a 200-day simple moving average of $106.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $13.97 billion. During the same period last year, the business earned $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts predict that ConocoPhillips will post 7.65 EPS for the current fiscal year.

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.