R.H. Investment Group LLC Takes $4.55 Million Position in ConocoPhillips (NYSE:COP)

R.H. Investment Group LLC acquired a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,848 shares of the energy producer’s stock, valued at approximately $4,547,000. ConocoPhillips makes up approximately 4.3% of R.H. Investment Group LLC’s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Pines Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $773,000. SeaCrest Wealth Management LLC lifted its stake in shares of ConocoPhillips by 0.7% in the fourth quarter. SeaCrest Wealth Management LLC now owns 17,083 shares of the energy producer’s stock valued at $1,694,000 after purchasing an additional 115 shares during the period. Accurate Wealth Management LLC boosted its holdings in ConocoPhillips by 7.3% during the fourth quarter. Accurate Wealth Management LLC now owns 15,336 shares of the energy producer’s stock worth $1,563,000 after buying an additional 1,047 shares in the last quarter. Sovereign Financial Group Inc. grew its position in ConocoPhillips by 37.3% during the fourth quarter. Sovereign Financial Group Inc. now owns 2,659 shares of the energy producer’s stock worth $264,000 after buying an additional 722 shares during the period. Finally, Pacifica Partners Inc. increased its holdings in ConocoPhillips by 40.3% in the fourth quarter. Pacifica Partners Inc. now owns 1,480 shares of the energy producer’s stock valued at $148,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on COP. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company dropped their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $136.65.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE COP opened at $104.83 on Wednesday. The firm’s 50 day moving average price is $104.21 and its 200 day moving average price is $107.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market cap of $120.65 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.