Resonant Capital Advisors LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Resonant Capital Advisors LLC purchased a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,551 shares of the energy producer’s stock, valued at approximately $352,000.

A number of other institutional investors and hedge funds also recently modified their holdings of COP. Catalina Capital Group LLC increased its holdings in shares of ConocoPhillips by 43.1% in the 4th quarter. Catalina Capital Group LLC now owns 9,641 shares of the energy producer’s stock valued at $956,000 after purchasing an additional 2,905 shares during the period. S.A. Mason LLC lifted its position in ConocoPhillips by 399.2% in the 4th quarter. S.A. Mason LLC now owns 6,490 shares of the energy producer’s stock worth $644,000 after buying an additional 5,190 shares in the last quarter. Chicago Capital LLC boosted its stake in shares of ConocoPhillips by 18.8% during the 4th quarter. Chicago Capital LLC now owns 4,737 shares of the energy producer’s stock valued at $470,000 after buying an additional 750 shares during the period. Means Investment CO. Inc. grew its holdings in shares of ConocoPhillips by 3.8% during the 4th quarter. Means Investment CO. Inc. now owns 7,839 shares of the energy producer’s stock valued at $777,000 after acquiring an additional 285 shares in the last quarter. Finally, Willis Investment Counsel raised its holdings in shares of ConocoPhillips by 0.7% during the fourth quarter. Willis Investment Counsel now owns 223,679 shares of the energy producer’s stock worth $22,182,000 after acquiring an additional 1,535 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.4 %

COP stock opened at $98.47 on Tuesday. 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 stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.76 and a beta of 1.19. The business has a fifty day moving average price of $101.82 and a 200 day moving average price of $106.59. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker bought 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 transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on COP shares. Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Company 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.