Cowa LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Cowa LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,317 shares of the energy producer’s stock after purchasing an additional 2,322 shares during the quarter. Cowa LLC’s holdings in ConocoPhillips were worth $2,095,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COP. Albion Financial Group UT boosted its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips in the third quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on COP. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Barclays cut their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 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 acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Trading Down 4.0 %

Shares of NYSE COP opened at $97.90 on Friday. The stock has a market capitalization of $124.57 billion, a PE ratio of 12.57, a PEG ratio of 0.79 and a beta of 1.18. The stock has a fifty day simple moving average of $100.11 and a 200-day simple moving average of $105.44. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. 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 3.19%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

ConocoPhillips 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.