Tennessee Valley Asset Management Partners Makes New $74,000 Investment in ConocoPhillips (NYSE:COP)

Tennessee Valley Asset Management Partners purchased a new position in ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 636 shares of the energy producer’s stock, valued at approximately $74,000.

A number of other hedge funds have also made changes to their positions in the stock. Norris Perne & French LLP MI raised its stake in shares of ConocoPhillips by 1.9% during the 3rd 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 raised its stake in ConocoPhillips by 3.3% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after acquiring an additional 85 shares during the period. KLCM Advisors Inc. raised its stake in ConocoPhillips by 2.8% in the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after acquiring an additional 89 shares during the period. Evergreen Capital Management LLC raised its stake in ConocoPhillips by 0.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after acquiring an additional 89 shares during the period. Finally, Endowment Wealth Management Inc. raised its stake in ConocoPhillips by 4.6% in the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock valued at $246,000 after acquiring an additional 90 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on COP. Scotiabank increased their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Mizuho restated a “neutral” rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Susquehanna increased their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday. Truist Financial dropped their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler upped their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dominic E. Macklon sold 23,372 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP stock opened at $129.33 on Tuesday. The business’s 50-day moving average price is $120.93 and its 200-day moving average price is $117.31. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18. The firm has a market capitalization of $152.14 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the previous year, the firm earned $2.71 earnings per share. Equities research analysts forecast that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.41%. ConocoPhillips’s payout ratio is 25.61%.

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.