ConocoPhillips (NYSE:COP) Shares Bought by Transcendent Capital Group LLC

Transcendent Capital Group LLC boosted its stake in ConocoPhillips (NYSE:COP) by 88.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,441 shares of the energy producer’s stock after acquiring an additional 1,145 shares during the period. Transcendent Capital Group LLC’s holdings in ConocoPhillips were worth $242,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Albion Financial Group UT boosted its holdings in shares of ConocoPhillips by 876.9% in 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. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth $27,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates boosted its position in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. UBS Group decreased their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Finally, Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.47.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 0.9 %

Shares of ConocoPhillips stock opened at $98.82 on Tuesday. The company has a 50-day simple moving average of $100.09 and a 200 day simple moving average of $105.36. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $125.73 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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 paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

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.