Easterly Investment Partners LLC Invests $7.01 Million in ConocoPhillips (NYSE:COP)

Easterly Investment Partners LLC bought a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, Holdings Channel.com reports. The fund bought 70,657 shares of the energy producer’s stock, valued at approximately $7,007,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT increased its position in shares of 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. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips during the fourth quarter worth approximately $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on COP shares. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Truist Financial boosted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Trading Up 0.6 %

NYSE COP opened at $103.15 on Thursday. The company has a 50-day moving average of $99.08 and a 200-day moving average of $103.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company has a market cap of $131.25 billion, a P/E ratio of 13.24, a P/E/G 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 for the quarter, topping 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, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, February 14th. 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.