Marco Investment Management LLC Grows Stake in ConocoPhillips (NYSE:COP)

Marco Investment Management LLC increased its stake in ConocoPhillips (NYSE:COP) by 28.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,618 shares of the energy producer’s stock after acquiring an additional 22,350 shares during the period. Marco Investment Management LLC’s holdings in ConocoPhillips were worth $11,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Silver Oak Securities Incorporated grew its position in ConocoPhillips by 35.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,612 shares of the energy producer’s stock worth $187,000 after acquiring an additional 425 shares in the last quarter. Shufro Rose & Co. LLC grew its position in ConocoPhillips by 3.9% in the fourth quarter. Shufro Rose & Co. LLC now owns 13,241 shares of the energy producer’s stock worth $1,586,000 after acquiring an additional 500 shares in the last quarter. Sargent Investment Group LLC grew its position in ConocoPhillips by 56.4% in the fourth quarter. Sargent Investment Group LLC now owns 7,819 shares of the energy producer’s stock worth $908,000 after acquiring an additional 2,820 shares in the last quarter. Stonebrook Private Inc. purchased a new position in ConocoPhillips in the fourth quarter worth about $451,000. Finally, Unique Wealth Strategies LLC purchased a new position in ConocoPhillips in the fourth quarter worth about $971,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Piper Sandler boosted their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company boosted their target price on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Scotiabank boosted their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Raymond James decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Up 0.1 %

NYSE COP traded up $0.13 on Friday, hitting $130.24. The stock had a trading volume of 4,823,139 shares, compared to its average volume of 3,808,210. The business’s fifty day moving average price is $122.49 and its 200 day moving average price is $117.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The stock has a market cap of $153.22 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the company earned $2.71 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is currently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Company 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.