Hickory Asset Management Inc. Purchases Shares of 3,325 ConocoPhillips (NYSE:COP)

Hickory Asset Management Inc. bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,325 shares of the energy producer’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Manchester Capital Management LLC increased its position in shares of ConocoPhillips by 52.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,499 shares of the energy producer’s stock worth $149,000 after acquiring an additional 517 shares in the last quarter. Scarborough Advisors LLC increased its position in shares of ConocoPhillips by 12.6% during the fourth quarter. Scarborough Advisors LLC now owns 2,972 shares of the energy producer’s stock worth $295,000 after acquiring an additional 332 shares in the last quarter. BXM Wealth LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth about $778,000. Spinnaker Trust increased its position in shares of ConocoPhillips by 5.2% during the fourth quarter. Spinnaker Trust now owns 2,390 shares of the energy producer’s stock worth $237,000 after acquiring an additional 119 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of ConocoPhillips by 9.5% during the fourth quarter. Rhumbline Advisers now owns 2,419,638 shares of the energy producer’s stock worth $239,955,000 after acquiring an additional 209,694 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on COP shares. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.56.

ConocoPhillips Price Performance

COP stock opened at $96.39 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm’s fifty day moving average is $100.58 and its 200 day moving average is $105.85. The firm has a market cap of $110.93 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. ConocoPhillips’s dividend payout ratio is 40.05%.

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.