2,834 Shares in ConocoPhillips $COP Purchased by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,834 shares of the energy producer’s stock, valued at approximately $254,000.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC increased its stake in ConocoPhillips by 6.4% during the first quarter. LPL Financial LLC now owns 1,182,150 shares of the energy producer’s stock valued at $124,149,000 after purchasing an additional 70,759 shares during the last quarter. Prosperity Consulting Group LLC boosted its holdings in shares of ConocoPhillips by 47.6% in the 1st quarter. Prosperity Consulting Group LLC now owns 5,466 shares of the energy producer’s stock valued at $574,000 after buying an additional 1,763 shares during the period. Mackenzie Financial Corp grew its position in shares of ConocoPhillips by 7.1% during the 1st quarter. Mackenzie Financial Corp now owns 316,853 shares of the energy producer’s stock valued at $33,276,000 after buying an additional 21,008 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in ConocoPhillips by 3.8% during the first quarter. Foundations Investment Advisors LLC now owns 13,911 shares of the energy producer’s stock worth $1,461,000 after acquiring an additional 510 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in ConocoPhillips during the first quarter worth about $196,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the transaction, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on COP shares. Evercore ISI cut their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. UBS Group lowered their target price on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Capital One Financial raised their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of ConocoPhillips in a report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.16.

ConocoPhillips Stock Up 0.6%

NYSE COP opened at $87.18 on Thursday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $108.99. The company has a market capitalization of $107.73 billion, a P/E ratio of 11.70, a PEG ratio of 2.36 and a beta of 0.58. The company’s 50 day simple moving average is $90.09 and its 200 day simple moving average is $91.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

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.