Cowa LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Cowa LLC grew its holdings in ConocoPhillips (NYSE:COPFree Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,409 shares of the energy producer’s stock after buying an additional 314 shares during the quarter. ConocoPhillips accounts for 1.5% of Cowa LLC’s investment portfolio, making the stock its 19th largest position. Cowa LLC’s holdings in ConocoPhillips were worth $2,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norris Perne & French LLP MI increased its position in shares of ConocoPhillips by 1.9% during the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after purchasing an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC boosted its position in ConocoPhillips by 3.3% during the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after acquiring an additional 85 shares during the last quarter. Mascoma Wealth Management LLC grew its stake in ConocoPhillips by 35.9% during the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after acquiring an additional 88 shares in the last quarter. CRA Financial Services LLC lifted its stake in ConocoPhillips by 1.9% in the 3rd quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock worth $563,000 after purchasing an additional 89 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its holdings in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.6 %

Shares of ConocoPhillips stock opened at $126.28 on Tuesday. The company has a fifty day simple moving average of $112.85 and a 200-day simple moving average of $115.95. ConocoPhillips has a 12-month low of $95.60 and a 12-month high of $127.35. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $148.56 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.80 and a beta of 1.23.

ConocoPhillips (NYSE:COPGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 8.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.47%. ConocoPhillips’s payout ratio is 25.61%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a research report on Friday, December 8th. Susquehanna reduced their price objective on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Piper Sandler lowered their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. UBS Group lifted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Raymond James lowered their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.12.

Get Our Latest Analysis on COP

Insider Buying and Selling at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,625 shares of company stock worth $9,651,553. 0.37% of the stock is owned by insiders.

About ConocoPhillips

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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