12,144 Shares in ConocoPhillips (NYSE:COP) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, Holdings Channel reports. The firm purchased 12,144 shares of the energy producer’s stock, valued at approximately $1,359,000.

A number of other hedge funds also recently modified their holdings of COP. Orion Capital Management LLC bought a new position in ConocoPhillips in the third quarter valued at about $27,000. West Branch Capital LLC grew its position in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 111 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in ConocoPhillips in the third quarter valued at about $40,000. Finally, Newbridge Financial Services Group Inc. bought a new position in ConocoPhillips in the third quarter valued at about $44,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on COP shares. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Piper Sandler boosted their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank boosted their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Barclays started coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Trading Up 0.4 %

Shares of COP stock traded up $0.50 during trading hours on Tuesday, hitting $129.83. 3,773,534 shares of the company were exchanged, compared to its average volume of 5,397,009. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company has a 50 day simple moving average of $120.93 and a two-hundred day simple moving average of $117.31. The firm has a market cap of $152.73 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.73 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the company posted $2.71 earnings per share. Equities analysts anticipate that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

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

Insider Buying and Selling

In other news, EVP Nicholas G. Olds sold 12,150 shares of the company’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 transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is owned by company insiders.

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.