Metis Global Partners LLC Acquires 7,004 Shares of ConocoPhillips (NYSE:COP)

Metis Global Partners LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,936 shares of the energy producer’s stock after acquiring an additional 7,004 shares during the quarter. Metis Global Partners LLC’s holdings in ConocoPhillips were worth $5,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after acquiring an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. lifted its position in ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares in the last quarter. Brookstone Capital Management lifted its position in ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after acquiring an additional 383 shares in the last quarter. Prospera Financial Services Inc lifted its position in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after buying an additional 46,621 shares during the period. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. UBS Group lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Finally, 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. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Trading Up 1.8 %

Shares of COP stock opened at $99.12 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $126.12 billion, a PE ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. The stock has a fifty day simple moving average of $100.19 and a two-hundred day simple moving average of $105.08.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Activity

In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now 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 disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.