Norden Group LLC Boosts Position in ConocoPhillips (NYSE:COP)

Norden Group LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 35.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,099 shares of the energy producer’s stock after buying an additional 5,771 shares during the quarter. Norden Group LLC’s holdings in ConocoPhillips were worth $2,192,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $27,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

Insider Activity

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

ConocoPhillips Trading Up 1.8 %

Shares of COP opened at $99.12 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $100.19 and its two-hundred day moving average is $105.06. The stock has a market cap of $126.12 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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 forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. ConocoPhillips’s 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.