Patrick M Sweeney & Associates Inc. Buys New Holdings in ConocoPhillips (NYSE:COP)

Patrick M Sweeney & Associates Inc. bought a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,193 shares of the energy producer’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Alphinity Investment Management Pty Ltd bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $310,102,000. Capital Wealth Planning LLC increased its holdings in ConocoPhillips by 45,426.8% during the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after purchasing an additional 1,425,946 shares in the last quarter. International Assets Investment Management LLC increased its holdings in ConocoPhillips by 13,905.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after purchasing an additional 1,106,305 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $99,676,000. Finally, Pacer Advisors Inc. increased its holdings in ConocoPhillips by 29.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock worth $397,288,000 after purchasing an additional 776,107 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on COP shares. Scotiabank boosted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. UBS Group boosted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Susquehanna upped their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.76.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.01 during trading on Tuesday, hitting $123.54. 5,901,955 shares of the company were exchanged, compared to its average volume of 5,368,249. The company has a market cap of $144.48 billion, a PE ratio of 13.99, a P/E/G ratio of 2.69 and a beta of 1.25. The stock has a 50 day moving average of $124.31 and a 200 day moving average of $117.59. ConocoPhillips has a 52-week low of $97.42 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last posted its 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. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.53%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Transactions at ConocoPhillips

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

About ConocoPhillips

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.