Enhancing Capital LLC Buys Shares of 10,900 ConocoPhillips (NYSE:COP)

Enhancing Capital LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,900 shares of the energy producer’s stock, valued at approximately $1,081,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Xponance Inc. grew its position in ConocoPhillips by 35.4% in the fourth quarter. Xponance Inc. now owns 213,800 shares of the energy producer’s stock valued at $21,203,000 after purchasing an additional 55,868 shares in the last quarter. Boston Partners grew its holdings in shares of ConocoPhillips by 24.5% in the 4th quarter. Boston Partners now owns 5,475,842 shares of the energy producer’s stock valued at $543,976,000 after acquiring an additional 1,078,063 shares in the last quarter. Evoke Wealth LLC increased its position in shares of ConocoPhillips by 3.2% in the fourth quarter. Evoke Wealth LLC now owns 33,184 shares of the energy producer’s stock valued at $3,291,000 after acquiring an additional 1,028 shares during the last quarter. Horizon Investments LLC raised its holdings in ConocoPhillips by 10.0% during the fourth quarter. Horizon Investments LLC now owns 29,265 shares of the energy producer’s stock worth $2,902,000 after acquiring an additional 2,649 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in ConocoPhillips by 44.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,750,826 shares of the energy producer’s stock valued at $174,069,000 after purchasing an additional 540,702 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Stock Up 0.5 %

COP stock opened at $99.42 on Tuesday. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The business has a 50-day simple moving average of $99.22 and a 200 day simple moving average of $103.65. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $126.50 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. ConocoPhillips’s payout ratio is 40.05%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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.