VVR Holdings LLC Acquires New Position in ConocoPhillips $COP

VVR Holdings LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,611 shares of the energy producer’s stock, valued at approximately $432,000. ConocoPhillips makes up about 0.2% of VVR Holdings LLC’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of ConocoPhillips by 14.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after purchasing an additional 298,245 shares during the period. Natixis Advisors LLC increased its position in shares of ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after purchasing an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after buying an additional 20,501 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in ConocoPhillips in the third quarter worth $1,892,000. Finally, D.A. Davidson & CO. lifted its position in ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of a number of analyst reports. Raymond James Financial cut their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Susquehanna raised their target price on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Piper Sandler lifted their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Scotiabank upped their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Citigroup increased their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $134.48.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the sale, the senior vice president directly owned 17,469 shares in the company, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the transaction, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 686,391 shares of company stock worth $87,590,752 in the last quarter. 0.09% of the stock is owned by insiders.

ConocoPhillips Stock Up 1.5%

Shares of NYSE:COP opened at $118.95 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market cap of $144.91 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. The business’s 50 day moving average is $121.80 and its 200 day moving average is $109.79. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the business earned $2.09 EPS. ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.