ConocoPhillips (NYSE:COP) Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP grew its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,368 shares of the energy producer’s stock after purchasing an additional 2,492 shares during the quarter. Westfield Capital Management Co. LP’s holdings in ConocoPhillips were worth $5,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC lifted its stake in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COP shares. Piper Sandler lifted their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price on the stock. Mizuho lifted their target price on ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $143.24.

Check Out Our Latest Research Report on ConocoPhillips

ConocoPhillips Stock Performance

COP stock traded down $0.40 during midday trading on Friday, reaching $117.25. The company had a trading volume of 2,851,146 shares, compared to its average volume of 5,001,379. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $125.92 and a 200 day moving average price of $117.75. ConocoPhillips has a fifty-two week low of $98.38 and a fifty-two week high of $135.18. The firm has a market capitalization of $137.13 billion, a PE ratio of 13.28, a P/E/G ratio of 2.58 and a beta of 1.25.

ConocoPhillips (NYSE:COPGet Free Report) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Analysts anticipate that ConocoPhillips will post 9.12 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.66%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 664,350 shares of company stock worth $83,537,680. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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