Glassy Mountain Advisors Inc. Takes $71,000 Position in ConocoPhillips (NYSE:COP)

Glassy Mountain Advisors Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COPGet Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 600 shares of the energy producer’s stock, valued at approximately $71,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Prelude Capital Management LLC boosted its position in ConocoPhillips by 123.0% during the second quarter. Prelude Capital Management LLC now owns 37,354 shares of the energy producer’s stock valued at $3,355,000 after purchasing an additional 20,605 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of ConocoPhillips by 67.7% in the second quarter. Renaissance Technologies LLC now owns 931,308 shares of the energy producer’s stock worth $83,641,000 after buying an additional 375,900 shares during the last quarter. PFS Investments Inc. lifted its position in shares of ConocoPhillips by 12.9% in the third quarter. PFS Investments Inc. now owns 6,431 shares of the energy producer’s stock worth $658,000 after buying an additional 733 shares during the last quarter. CAPROCK Group Inc. lifted its position in shares of ConocoPhillips by 60.5% in the third quarter. CAPROCK Group Inc. now owns 7,683 shares of the energy producer’s stock worth $797,000 after buying an additional 2,895 shares during the last quarter. Finally, United Services Automobile Association lifted its position in shares of ConocoPhillips by 2.7% in the third quarter. United Services Automobile Association now owns 48,959 shares of the energy producer’s stock worth $5,011,000 after buying an additional 1,281 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Credit Suisse Group reduced their price target on ConocoPhillips from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Piper Sandler boosted their price objective on ConocoPhillips from $155.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, December 19th. Mizuho cut their price objective on ConocoPhillips from $150.00 to $143.00 in a research report on Friday, March 10th. Citigroup cut their price objective on ConocoPhillips from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Finally, Raymond James cut their price objective on ConocoPhillips from $150.00 to $135.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $136.86.

ConocoPhillips Trading Down 2.1 %

COP stock opened at $94.39 on Friday. ConocoPhillips has a 1-year low of $78.30 and a 1-year high of $138.49. The firm has a market cap of $115.04 billion, a P/E ratio of 6.51, a P/E/G ratio of 0.45 and a beta of 1.29. The business’s 50 day moving average is $111.37 and its 200-day moving average is $115.73. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings data on Thursday, February 2nd. The energy producer reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.01). ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. The company had revenue of $19.26 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 11.79 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 29th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 2.16%. ConocoPhillips’s dividend payout ratio is currently 14.06%.

Insider Activity

In other ConocoPhillips news, Director R A. Walker bought 4,800 shares of ConocoPhillips stock in a transaction dated Wednesday, February 22nd. The shares were acquired at an average cost of $103.00 per share, with a total value of $494,400.00. Following the acquisition, the director now directly owns 27,600 shares of the company’s stock, valued at $2,842,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.

ConocoPhillips Company Profile

(Get Rating)

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.

See Also

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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