Courier Capital LLC Has $2.03 Million Holdings in ConocoPhillips (NYSE:COP)

Courier Capital LLC raised its stake in ConocoPhillips (NYSE:COP) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,481 shares of the energy producer’s stock after buying an additional 103 shares during the quarter. Courier Capital LLC’s holdings in ConocoPhillips were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Parallel Advisors LLC grew its holdings in shares of ConocoPhillips by 1.0% in the 2nd quarter. Parallel Advisors LLC now owns 27,170 shares of the energy producer’s stock valued at $3,108,000 after buying an additional 271 shares during the period. Thoroughbred Financial Services LLC grew its stake in ConocoPhillips by 34.1% in the second quarter. Thoroughbred Financial Services LLC now owns 8,373 shares of the energy producer’s stock valued at $957,000 after acquiring an additional 2,130 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of ConocoPhillips by 8.5% in the second quarter. Wealthspire Advisors LLC now owns 8,145 shares of the energy producer’s stock worth $932,000 after acquiring an additional 641 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of ConocoPhillips by 6.6% during the second quarter. Envestnet Asset Management Inc. now owns 2,883,417 shares of the energy producer’s stock worth $329,805,000 after purchasing an additional 178,129 shares during the period. Finally, Prosperity Consulting Group LLC lifted its holdings in shares of ConocoPhillips by 2.6% during the 2nd quarter. Prosperity Consulting Group LLC now owns 6,774 shares of the energy producer’s stock valued at $775,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research reports. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company upped their price objective on ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $136.76.

ConocoPhillips Price Performance

Shares of COP stock traded up $2.37 during trading hours on Monday, reaching $104.29. The stock had a trading volume of 7,335,968 shares, compared to its average volume of 5,902,448. The stock’s fifty day simple moving average is $104.39 and its 200 day simple moving average is $107.70. The firm has a market capitalization of $120.03 billion, a PE ratio of 12.40, a PEG ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the business earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts predict that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Insider Activity

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were acquired at an average price 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 trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.