Ceeto Capital Group LLC Buys Shares of 2,550 ConocoPhillips (NYSE:COP)

Ceeto Capital Group LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,550 shares of the energy producer’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently added to or reduced their stakes in COP. TD Private Client Wealth LLC raised its holdings in ConocoPhillips by 7.9% in the third quarter. TD Private Client Wealth LLC now owns 19,274 shares of the energy producer’s stock valued at $2,029,000 after acquiring an additional 1,414 shares in the last quarter. Morse Asset Management Inc acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $805,000. Anchor Investment Management LLC grew its position in ConocoPhillips by 5.5% in the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock worth $1,192,000 after buying an additional 589 shares during the last quarter. Fulcrum Equity Management raised its position in shares of ConocoPhillips by 24.1% during the third quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock worth $625,000 after purchasing an additional 1,155 shares during the period. Finally, World Investment Advisors LLC lifted its stake in ConocoPhillips by 746.7% during the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock valued at $4,625,000 after buying an additional 38,740 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $86.36 on Friday. The firm has a market cap of $109.17 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. 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 company’s 50 day moving average is $96.51 and its 200-day moving average is $102.04. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.61%. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on COP shares. UBS Group lowered their target price on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Barclays cut 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, February 10th. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $130.79.

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.