MADDEN SECURITIES Corp purchased a new stake in shares of ConocoPhillips (NYSE:COP – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 550 shares of the energy producer’s stock, valued at approximately $65,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its stake in shares of ConocoPhillips by 64.8% in the second quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock worth $1,901,935,000 after purchasing an additional 8,323,587 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in ConocoPhillips by 53.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 7,338,622 shares of the energy producer’s stock valued at $751,035,000 after acquiring an additional 2,555,634 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of ConocoPhillips by 12.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 22,866,527 shares of the energy producer’s stock valued at $2,053,643,000 after acquiring an additional 2,472,255 shares during the last quarter. Cowa LLC increased its stake in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after acquiring an additional 2,339,100 shares during the period. Finally, Yacktman Asset Management LP raised its holdings in shares of ConocoPhillips by 559.1% during the third quarter. Yacktman Asset Management LP now owns 1,766,770 shares of the energy producer’s stock worth $180,811,000 after purchasing an additional 1,498,720 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.
Insiders Place Their Bets
In other news, Director R A. Walker purchased 4,800 shares of the stock in a transaction dated Friday, February 17th. The shares were purchased at an average price of $104.50 per share, with a total value of $501,600.00. Following the transaction, the director now owns 22,800 shares in the company, valued at approximately $2,382,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.
ConocoPhillips Price Performance
ConocoPhillips (NYSE:COP – Get Rating) last released its earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). The business had revenue of $19.26 billion during the quarter, compared to analysts’ expectations of $18.16 billion. ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the business earned $2.27 earnings per share. On average, equities analysts predict that ConocoPhillips will post 11.79 earnings per share for the current fiscal year.
ConocoPhillips Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, March 28th. ConocoPhillips’s payout ratio is currently 14.06%.
Analyst Ratings Changes
Several brokerages have weighed in on COP. Wells Fargo & Company increased their price target on ConocoPhillips from $154.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. Scotiabank downgraded ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $145.00 to $140.00 in a report on Tuesday, January 17th. Credit Suisse Group dropped their price objective on shares of ConocoPhillips from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, February 1st. Finally, Piper Sandler raised their price target on shares of ConocoPhillips from $155.00 to $157.00 and gave the company an “overweight” rating in a research report on Monday, December 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.86.
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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