Caprock Group LLC Takes $4.52 Million Position in ConocoPhillips $COP

Caprock Group LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 45,264 shares of the energy producer’s stock, valued at approximately $4,516,000.

Several other hedge funds have also added to or reduced their stakes in the company. Tema Etfs LLC bought a new stake in shares of ConocoPhillips during the third quarter worth approximately $1,804,000. D.A. Davidson & CO. grew its holdings in ConocoPhillips by 12.1% during the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after acquiring an additional 15,202 shares during the period. Chilton Capital Management LLC raised its position in shares of 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 acquiring an additional 11,958 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of ConocoPhillips by 107.5% in the 3rd quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer’s stock valued at $9,783,000 after purchasing an additional 53,587 shares during the period. Finally, StoneX Group Inc. boosted its position in shares of ConocoPhillips by 510.5% in the 2nd quarter. StoneX Group Inc. now owns 29,285 shares of the energy producer’s stock worth $2,628,000 after purchasing an additional 24,488 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on COP shares. JPMorgan Chase & Co. upped their price objective on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. Raymond James Financial lifted their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup upped their target price on shares of ConocoPhillips from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Up 3.5%

Shares of NYSE:COP opened at $111.24 on Thursday. The firm has a market cap of $137.46 billion, a price-to-earnings ratio of 17.55 and a beta of 0.32. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $111.44. The company’s fifty day simple moving average is $97.63 and its 200 day simple moving average is $94.01. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same quarter last year, the company posted $1.98 EPS. ConocoPhillips’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

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.