ConocoPhillips (NYSE:COP) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of ConocoPhillips (NYSE:COP) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,912 shares of the energy producer’s stock after acquiring an additional 16,888 shares during the period. QRG Capital Management Inc.’s holdings in ConocoPhillips were worth $21,015,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of COP. Cypress Capital Group increased its holdings in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the period. Orrstown Financial Services Inc. increased its holdings in ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after purchasing an additional 96 shares during the period. Smithfield Trust Co increased its holdings in ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after purchasing an additional 100 shares during the period. Principle Wealth Partners LLC increased its holdings in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the period. Finally, Verus Capital Partners LLC increased its holdings in ConocoPhillips by 2.0% during the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.0 %

NYSE:COP opened at $96.06 on Thursday. The stock’s 50 day moving average price is $100.07 and its 200 day moving average price is $105.21. The company has a market capitalization of $122.23 billion, a PE ratio of 12.33, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.25%. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COP shares. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

Insiders Place Their Bets

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

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.