Patrick M Sweeney & Associates Inc. Buys 884 Shares of ConocoPhillips (NYSE:COP)

Patrick M Sweeney & Associates Inc. lifted its stake in ConocoPhillips (NYSE:COP) by 34.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,454 shares of the energy producer’s stock after purchasing an additional 884 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in ConocoPhillips were worth $343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the 3rd quarter worth $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth $31,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of ConocoPhillips by 80.5% in 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 last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

Shares of NYSE:COP opened at $102.73 on Tuesday. The company has a fifty day moving average of $102.98 and a 200-day moving average of $107.06. The company has a market capitalization of $118.23 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

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

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.04%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COP shares. Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Raymond James lifted their target price on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets lifted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $135.89.

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.