Value Holdings Management CO. LLC Buys New Shares in ConocoPhillips (NYSE:COP)

Value Holdings Management CO. LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,509 shares of the energy producer’s stock, valued at approximately $5,108,000. ConocoPhillips accounts for 0.9% of Value Holdings Management CO. LLC’s investment portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips in the third quarter worth $31,000. Global Wealth Strategies & Associates grew its holdings in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Scotiabank decreased their price objective 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 research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $136.00.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, 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. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.15 during mid-day trading on Friday, hitting $105.76. 8,546,391 shares of the stock traded hands, compared to its average volume of 6,479,072. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The firm has a 50 day simple moving average of $103.91 and a two-hundred day simple moving average of $107.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market cap of $121.72 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19.

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, beating 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 analyst estimates of $13.97 billion. During the same quarter last year, the business earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. 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 dividend yield of 2.95%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

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.