ConocoPhillips (NYSE:COP) Shares Purchased by Saxony Capital Management LLC

Saxony Capital Management LLC raised its stake in ConocoPhillips (NYSE:COP) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,788 shares of the energy producer’s stock after purchasing an additional 501 shares during the period. Saxony Capital Management LLC’s holdings in ConocoPhillips were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in COP. State Street Corp boosted its stake in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP increased its holdings in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC increased its holdings in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. increased its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after buying an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Raymond James raised their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Two investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $135.89.

ConocoPhillips Price Performance

COP opened at $101.41 on Friday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a 50-day moving average of $102.08 and a 200-day moving average of $106.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $116.72 billion, a P/E ratio of 12.06, a PEG ratio of 0.78 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its earnings results 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. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 EPS. Equities analysts expect that ConocoPhillips will post 7.64 EPS for the current fiscal year.

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.