Horizon Investments LLC Has $2.90 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Horizon Investments LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,265 shares of the energy producer’s stock after purchasing an additional 2,649 shares during the quarter. Horizon Investments LLC’s holdings in ConocoPhillips were worth $2,902,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. increased its position in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management increased its position in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after buying an additional 383 shares during the period. Prospera Financial Services Inc increased its position in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after buying an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $100.51 on Wednesday. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $99.19 and its two-hundred day moving average price is $103.56. The stock has a market cap of $127.88 billion, a PE ratio of 12.90, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its quarterly 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 return on equity of 17.26% and a net margin of 16.23%. As a group, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on COP shares. Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.05.

Insider Activity

In other news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

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.