ConocoPhillips $COP Shares Bought by Byrne Asset Management LLC

Byrne Asset Management LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 58.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,236 shares of the energy producer’s stock after purchasing an additional 5,637 shares during the period. ConocoPhillips comprises approximately 1.0% of Byrne Asset Management LLC’s portfolio, making the stock its 19th largest holding. Byrne Asset Management LLC’s holdings in ConocoPhillips were worth $1,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Frazier Financial Advisors LLC raised its position in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $25,000. Ballast Advisors LLC bought a new position in ConocoPhillips in the 1st quarter valued at approximately $36,000. Evergreen Advisors LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $36,000. Finally, Allied Private Wealth LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $32,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several recent research reports. Truist Financial upped their price target on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research report on Monday, August 10th. The Goldman Sachs Group reduced their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Mizuho decreased their price objective on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Argus upped their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

ConocoPhillips Trading Up 1.2%

Shares of ConocoPhillips stock traded up $1.58 on Tuesday, hitting $129.98. 1,662,785 shares of the company’s stock traded hands, compared to its average volume of 8,140,753. The company has a fifty day moving average of $128.54 and a two-hundred day moving average of $121.84. ConocoPhillips has a one year low of $85.57 and a one year high of $141.62. The company has a market capitalization of $156.15 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.34 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. As a group, sell-side analysts expect that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.