ConocoPhillips (NYSE:COP) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 27.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,325 shares of the energy producer’s stock after acquiring an additional 1,594 shares during the quarter. Pallas Capital Advisors LLC’s holdings in ConocoPhillips were worth $765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares in the last quarter. Capital International Investors grew its position in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after purchasing an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of ConocoPhillips by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after purchasing an additional 109,885 shares during the last quarter. Finally, Boston Partners lifted its position in ConocoPhillips by 10.3% during the first quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock worth $567,111,000 after buying an additional 415,878 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on COP shares. Barclays cut their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Mizuho dropped their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Stock Up 0.7 %

Shares of ConocoPhillips stock opened at $103.03 on Thursday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a 50 day moving average of $108.02 and a 200 day moving average of $113.20. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $119.64 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 7.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company 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.