HF Advisory Group LLC Has $1.53 Million Position in ConocoPhillips (NYSE:COP)

HF Advisory Group LLC grew its stake in ConocoPhillips (NYSE:COP) by 44.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,504 shares of the energy producer’s stock after buying an additional 4,452 shares during the period. HF Advisory Group LLC’s holdings in ConocoPhillips were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $30,021,000. EP Wealth Advisors LLC boosted its position in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Alpha DNA Investment Management LLC boosted its position in ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after acquiring an additional 7,490 shares during the last quarter. TCW Group Inc. raised its position in shares of ConocoPhillips by 37.8% in the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after acquiring an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at about $815,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $109.22 on Wednesday. The company has a fifty day moving average price of $107.78 and a 200-day moving average price of $112.52. The firm has a market cap of $125.70 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COP shares. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Mizuho raised their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

ConocoPhillips 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.