Avestar Capital LLC Has $1.21 Million Stake in ConocoPhillips (NYSE:COP)

Avestar Capital LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,223 shares of the energy producer’s stock after buying an additional 1,618 shares during the quarter. Avestar Capital LLC’s holdings in ConocoPhillips were worth $1,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COP. MTM Investment Management LLC boosted its stake in ConocoPhillips by 17.3% during the 4th quarter. MTM Investment Management LLC now owns 2,815 shares of the energy producer’s stock worth $279,000 after acquiring an additional 415 shares during the last quarter. Sawgrass Asset Management LLC boosted its position in shares of ConocoPhillips by 15.7% during the fourth quarter. Sawgrass Asset Management LLC now owns 2,851 shares of the energy producer’s stock worth $283,000 after purchasing an additional 387 shares in the last quarter. Ingalls & Snyder LLC boosted its position in shares of ConocoPhillips by 10.6% during the fourth quarter. Ingalls & Snyder LLC now owns 14,804 shares of the energy producer’s stock worth $1,468,000 after purchasing an additional 1,417 shares in the last quarter. Naples Global Advisors LLC grew its holdings in shares of ConocoPhillips by 11.2% in the 4th quarter. Naples Global Advisors LLC now owns 15,902 shares of the energy producer’s stock valued at $1,577,000 after buying an additional 1,607 shares during the period. Finally, Louisbourg Investments Inc. increased its position in shares of ConocoPhillips by 13.2% in the 4th quarter. Louisbourg Investments Inc. now owns 55,972 shares of the energy producer’s stock valued at $5,551,000 after buying an additional 6,530 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the 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 completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 3.2 %

NYSE COP opened at $98.42 on Thursday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $100.73 and a 200-day moving average of $105.91. The company has a market cap of $113.27 billion, a PE ratio of 12.63, a PEG ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts anticipate that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COP. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Barclays reduced their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.56.

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.