United Asset Strategies Inc. Takes $351,000 Position in ConocoPhillips (NYSE:COP)

United Asset Strategies Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,543 shares of the energy producer’s stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Albion Financial Group UT increased its position 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 worth $25,000 after purchasing an additional 228 shares in the last quarter. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $102.73 on Tuesday. The company has a market cap of $118.23 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. 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 50-day moving average of $102.98 and a two-hundred day moving average of $107.06.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, analysts anticipate that ConocoPhillips will post 7.65 EPS 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 $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $135.89.

Insider Buying and Selling

In other news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.