WealthPlan Investment Management LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,122 shares of the energy producer’s stock, valued at approximately $358,000.
Several other hedge funds have also modified their holdings of COP. FMR LLC lifted its position in shares of ConocoPhillips by 64.8% during the second quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock valued at $1,901,935,000 after buying an additional 8,323,587 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of ConocoPhillips by 53.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 7,338,622 shares of the energy producer’s stock valued at $751,035,000 after purchasing an additional 2,555,634 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of ConocoPhillips by 12.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 22,866,527 shares of the energy producer’s stock valued at $2,053,643,000 after purchasing an additional 2,472,255 shares during the last quarter. Cowa LLC raised its position in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after purchasing an additional 2,339,100 shares during the last quarter. Finally, Yacktman Asset Management LP raised its position in shares of ConocoPhillips by 559.1% in the 3rd quarter. Yacktman Asset Management LP now owns 1,766,770 shares of the energy producer’s stock valued at $180,811,000 after purchasing an additional 1,498,720 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other ConocoPhillips news, Director R A. Walker bought 4,800 shares of the stock in a transaction on Friday, February 17th. The shares were bought at an average price of $104.50 per share, with a total value of $501,600.00. Following the purchase, the director now directly owns 22,800 shares in the company, valued at approximately $2,382,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.
ConocoPhillips Price Performance
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. The company had revenue of $19.26 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same period in the prior year, the business posted $2.27 EPS. ConocoPhillips’s revenue was up 20.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 11.79 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be paid a dividend of $0.51 per share. The ex-dividend date is Tuesday, March 28th. This represents a $2.04 annualized dividend and a yield of 2.16%. ConocoPhillips’s dividend payout ratio (DPR) is presently 14.06%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Wolfe Research lowered shares of ConocoPhillips from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 12th. Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, February 1st. Societe Generale lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating and increased their price objective for the company from $106.00 to $114.00 in a research report on Monday, November 21st. They noted that the move was a valuation call. Piper Sandler raised their price target on shares of ConocoPhillips from $155.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, December 19th. Finally, Argus raised their price target on shares of ConocoPhillips from $125.00 to $150.00 in a research report on Monday, November 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.86.
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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