Sierra Ocean LLC Invests $78,000 in ConocoPhillips (NYSE:COP)

Sierra Ocean LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 787 shares of the energy producer’s stock, valued at approximately $78,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the 3rd quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $96.39 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $100.44 and its two-hundred day moving average is $105.73. The firm has a market capitalization of $110.93 billion, a P/E ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. UBS Group cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.56.

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.