Invesco LLC Buys 365 Shares of ConocoPhillips (NYSE:COP)

Invesco LLC lifted its position in ConocoPhillips (NYSE:COP) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,623 shares of the energy producer’s stock after purchasing an additional 365 shares during the quarter. Invesco LLC’s holdings in ConocoPhillips were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Orrstown Financial Services Inc. grew its holdings in shares of ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares in the last quarter. Field & Main Bank grew its position in ConocoPhillips by 25.6% in the fourth quarter. Field & Main Bank now owns 3,951 shares of the energy producer’s stock worth $392,000 after acquiring an additional 806 shares in the last quarter. Strategic Blueprint LLC increased its stake in ConocoPhillips by 50.5% during the fourth quarter. Strategic Blueprint LLC now owns 9,045 shares of the energy producer’s stock worth $897,000 after acquiring an additional 3,035 shares during the last quarter. Iams Wealth Management LLC raised its position in ConocoPhillips by 13.7% during the fourth quarter. Iams Wealth Management LLC now owns 20,702 shares of the energy producer’s stock valued at $2,053,000 after purchasing an additional 2,499 shares during the period. Finally, Smith Group Asset Management LLC purchased a new stake in ConocoPhillips during the fourth quarter valued at approximately $283,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.46 during midday trading on Wednesday, reaching $100.92. 341,235 shares of the stock were exchanged, compared to its average volume of 5,556,596. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $102.53 and a two-hundred day simple moving average of $106.90. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The firm has a market cap of $116.15 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Ratings Changes

COP has been the topic of several analyst reports. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Raymond James increased their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company dropped their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley started coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $135.89.

Insider Buying and Selling

In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were acquired 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 owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.