Generali Investments Management Co LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Generali Investments Management Co LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 24,679 shares of the energy producer’s stock, valued at approximately $2,447,000.

Several other large investors have also made changes to their positions in COP. Claro Advisors LLC boosted its holdings in shares of ConocoPhillips by 23.5% in the 3rd quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock valued at $444,000 after acquiring an additional 803 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 6.3% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 4,328 shares of the energy producer’s stock valued at $456,000 after acquiring an additional 255 shares during the last quarter. OneAscent Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 22.7% in the 3rd quarter. OneAscent Wealth Management LLC now owns 3,694 shares of the energy producer’s stock valued at $389,000 after acquiring an additional 683 shares during the last quarter. Aviance Capital Partners LLC boosted its holdings in shares of ConocoPhillips by 7.8% in the 3rd quarter. Aviance Capital Partners LLC now owns 22,734 shares of the energy producer’s stock valued at $2,393,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Smead Capital Management Inc. boosted its holdings in shares of ConocoPhillips by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,196,884 shares of the energy producer’s stock valued at $231,288,000 after acquiring an additional 74,045 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $100.51 on Wednesday. The firm has a 50-day simple moving average of $99.19 and a 200-day simple moving average of $103.56. The stock has a market capitalization of $127.88 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates 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 analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

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.