Belpointe Asset Management LLC Acquires 10,158 Shares of ConocoPhillips $COP

Belpointe Asset Management LLC grew its stake in ConocoPhillips (NYSE:COP) by 167.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,217 shares of the energy producer’s stock after buying an additional 10,158 shares during the period. Belpointe Asset Management LLC’s holdings in ConocoPhillips were worth $1,534,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in ConocoPhillips by 18.4% in the 3rd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,250 shares of the energy producer’s stock worth $213,000 after buying an additional 350 shares during the period. NWF Advisory Services Inc. acquired a new stake in shares of ConocoPhillips in the third quarter worth $255,000. Bank of Jackson Hole Trust increased its position in ConocoPhillips by 31.1% during the third quarter. Bank of Jackson Hole Trust now owns 2,362 shares of the energy producer’s stock worth $223,000 after acquiring an additional 560 shares during the period. Chilton Capital Management LLC raised its stake in ConocoPhillips by 3.2% during the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares during the last quarter. Finally, CFS Investment Advisory Services LLC raised its stake in ConocoPhillips by 4.9% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 7,113 shares of the energy producer’s stock valued at $626,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.6%

NYSE:COP opened at $101.47 on Thursday. The company has a market cap of $125.39 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 3.16 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The stock’s fifty day moving average price is $94.06 and its two-hundred day moving average price is $93.11. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same period last year, the firm earned $1.78 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s payout ratio is presently 47.52%.

Wall Street Analysts Forecast Growth

COP has been the topic of several research reports. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays cut their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Susquehanna lifted their price objective on ConocoPhillips from $110.00 to $115.00 and gave the stock a “positive” rating in a report on Monday. Wolfe Research boosted their price objective on ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $98.00 price target on shares of ConocoPhillips in a research note on Tuesday, January 20th. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.96.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.