Southland Equity Partners LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

Southland Equity Partners LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,409 shares of the energy producer’s stock after acquiring an additional 196 shares during the period. Southland Equity Partners LLC’s holdings in ConocoPhillips were worth $437,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in ConocoPhillips in the 2nd quarter valued at about $33,128,000. AlTi Global Inc. increased its position in shares of ConocoPhillips by 2.3% during the second quarter. AlTi Global Inc. now owns 7,132 shares of the energy producer’s stock valued at $816,000 after acquiring an additional 162 shares during the last quarter. AXA S.A. raised its stake in shares of ConocoPhillips by 7.1% in the 2nd quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock valued at $3,665,000 after acquiring an additional 2,116 shares during the period. AQR Capital Management LLC lifted its holdings in shares of ConocoPhillips by 25.2% in the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock worth $70,363,000 after acquiring an additional 123,834 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $60,050,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 1.0 %

Shares of NYSE COP opened at $104.07 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $119.77 billion, a PE ratio of 12.37, a P/E/G ratio of 0.86 and a beta of 1.19. The firm has a fifty day moving average of $103.36 and a 200-day moving average of $107.22. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Ratings Changes

A number of brokerages recently commented on COP. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Raymond James upped their price objective on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and an average target price of $135.89.

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.