Ignite Planners LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP – Get Rating) by 1.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,681 shares of the energy producer’s stock after buying an additional 184 shares during the period. ConocoPhillips makes up approximately 0.9% of Ignite Planners LLC’s investment portfolio, making the stock its 24th largest position. Ignite Planners LLC’s holdings in ConocoPhillips were worth $1,095,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Delos Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 1,300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the period. James Investment Research Inc. acquired a new stake in ConocoPhillips during the first quarter worth approximately $29,000. Fairfield Bush & CO. acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $31,000. Versant Capital Management Inc boosted its holdings in shares of ConocoPhillips by 93.1% in the 1st quarter. Versant Capital Management Inc now owns 365 shares of the energy producer’s stock valued at $37,000 after purchasing an additional 176 shares in the last quarter. Finally, DeDora Capital Inc. acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at $39,000. 79.66% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips Trading Down 7.9 %
COP traded down $8.71 on Friday, reaching $101.35. 360,010 shares of the company’s stock were exchanged, compared to its average volume of 6,914,243. The company’s 50 day moving average is $102.42 and its 200-day moving average is $101.24. The company has a market cap of $131.09 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.39 and a beta of 1.31. ConocoPhillips has a twelve month low of $62.25 and a twelve month high of $124.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54.
ConocoPhillips Dividend Announcement
The company also recently announced a None dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were issued a dividend of $1.40 per share. The ex-dividend date was Thursday, September 29th. ConocoPhillips’s payout ratio is currently 15.19%.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, June 22nd. Morgan Stanley boosted their target price on ConocoPhillips from $117.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, August 29th. Societe Generale lifted their price target on ConocoPhillips to $127.00 in a research note on Thursday, June 9th. Piper Sandler boosted their target price on ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. Finally, Mizuho cut their target price on ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.79.
Insider Buying and Selling
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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