ConocoPhillips (NYSE:COP) Shares Purchased by Regatta Capital Group LLC

Regatta Capital Group LLC raised its stake in ConocoPhillips (NYSE:COP) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,547 shares of the energy producer’s stock after acquiring an additional 787 shares during the period. Regatta Capital Group LLC’s holdings in ConocoPhillips were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in COP. AXA S.A. lifted its stake in ConocoPhillips by 7.1% in the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock valued at $3,665,000 after buying an additional 2,116 shares during the last quarter. AQR Capital Management LLC raised its position in ConocoPhillips by 25.2% in the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock valued at $70,363,000 after purchasing an additional 123,834 shares during the last quarter. Mackenzie Financial Corp boosted its stake in ConocoPhillips by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,262,477 shares of the energy producer’s stock worth $144,402,000 after purchasing an additional 20,443 shares during the period. Susquehanna Fundamental Investments LLC grew its position in ConocoPhillips by 1,005.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 306,327 shares of the energy producer’s stock worth $35,038,000 after purchasing an additional 278,627 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its stake in ConocoPhillips by 5.3% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 64,708 shares of the energy producer’s stock valued at $7,401,000 after purchasing an additional 3,286 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were acquired 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost 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 represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $101.88 on Friday. The firm has a market capitalization of $117.26 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. 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’s fifty day moving average price is $102.98 and its two-hundred day moving average price is $107.13. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the business posted $2.16 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips’s payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent research reports. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Finally, Raymond James raised their price objective on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research report on Thursday. Two investment 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 stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and an average target price of $135.89.

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.