FLC Capital Advisors Makes New Investment in ConocoPhillips (NYSE:COP)

FLC Capital Advisors purchased a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,771 shares of the energy producer’s stock, valued at approximately $206,000.

A number of other hedge funds also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC raised its holdings in shares of ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after acquiring an additional 8,575,696 shares during the last quarter. Morgan Stanley increased its holdings in shares of ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $310,102,000. Cowa LLC increased its holdings in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after purchasing an additional 2,339,100 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $186,330,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Scotiabank raised their price target on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. Piper Sandler lowered their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Finally, Mizuho restated a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $135.35.

ConocoPhillips Stock Performance

COP traded up $0.44 during trading on Thursday, reaching $127.28. The company’s stock had a trading volume of 4,626,938 shares, compared to its average volume of 5,775,189. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $128.64. The company’s fifty day moving average price is $113.87 and its 200-day moving average price is $116.08. The company has a market capitalization of $149.73 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the previous year, the company earned $2.71 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.45%. ConocoPhillips’s payout ratio is 25.61%.

Insider Transactions at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dominic E. Macklon sold 23,372 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

ConocoPhillips Company 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.