ConocoPhillips (NYSE:COP) Stock Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in ConocoPhillips (NYSE:COP) by 38.0% in the 4th quarter, Holdings Channel reports. The fund owned 28,123 shares of the energy producer’s stock after buying an additional 7,739 shares during the period. GAMMA Investing LLC’s holdings in ConocoPhillips were worth $2,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new stake in shares of ConocoPhillips in the second quarter valued at $3,075,000. Founders Financial Securities LLC lifted its stake in ConocoPhillips by 11.9% in the 2nd quarter. Founders Financial Securities LLC now owns 10,412 shares of the energy producer’s stock worth $1,191,000 after acquiring an additional 1,110 shares in the last quarter. Cozad Asset Management Inc. boosted its position in ConocoPhillips by 7.5% during the 2nd quarter. Cozad Asset Management Inc. now owns 5,800 shares of the energy producer’s stock worth $663,000 after acquiring an additional 406 shares during the period. Simon Quick Advisors LLC grew its stake in ConocoPhillips by 24.9% during the 2nd quarter. Simon Quick Advisors LLC now owns 4,516 shares of the energy producer’s stock valued at $517,000 after acquiring an additional 901 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of ConocoPhillips by 5.9% in the 2nd quarter. Foundations Investment Advisors LLC now owns 12,012 shares of the energy producer’s stock valued at $1,374,000 after purchasing an additional 673 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $100.08 on Friday. The company has a market capitalization of $115.18 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company’s fifty day moving average price is $104.85 and its 200 day moving average price is $108.20.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.12%. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group lowered their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $136.71.

Insider Activity

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

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.