Stratos Investment Management LLC Has $2.18 Million Stake in ConocoPhillips (NYSE:COP)

Stratos Investment Management LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,948 shares of the energy producer’s stock after selling 1,274 shares during the period. Stratos Investment Management LLC’s holdings in ConocoPhillips were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. State Street Corp increased its stake in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP increased its stake in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC increased its stake in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the last quarter. Franklin Resources Inc. increased its stake in ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP stock opened at $100.61 on Wednesday. The firm has a market cap of $115.80 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.76 and a beta of 1.18. 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 12-month low of $94.23 and a 12-month high of $135.18. The company’s fifty day simple moving average is $101.67 and its 200 day simple moving average is $106.46.

Analyst Ratings Changes

A number of research firms have weighed in on COP. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Truist Financial boosted their target price 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. Two research 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’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $135.89.

Insider Activity at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $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 owned by company insiders.

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.