SCP Investment LP Has $3.74 Million Holdings in ConocoPhillips (NYSE:COP)

SCP Investment LP raised its holdings in shares of ConocoPhillips (NYSE:COP) by 78.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,668 shares of the energy producer’s stock after purchasing an additional 16,600 shares during the period. ConocoPhillips comprises about 2.9% of SCP Investment LP’s portfolio, making the stock its 7th largest holding. SCP Investment LP’s holdings in ConocoPhillips were worth $3,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of COP. Albion Financial Group UT lifted its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $27,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips during the fourth quarter worth about $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at about $36,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on COP shares. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Morgan Stanley decreased their price target on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays decreased their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $102.37 on Friday. The stock’s fifty day simple moving average is $98.95 and its 200 day simple moving average is $103.27. The stock has a market capitalization of $130.26 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. 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 $86.81 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.