Rice Partnership LLC Increases Position in ConocoPhillips (NYSE:COP)

Rice Partnership LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,630 shares of the energy producer’s stock after purchasing an additional 4,023 shares during the quarter. ConocoPhillips comprises 1.3% of Rice Partnership LLC’s portfolio, making the stock its 25th largest position. Rice Partnership LLC’s holdings in ConocoPhillips were worth $6,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Albion Financial Group UT grew its holdings 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 valued at $25,000 after buying an additional 228 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost 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 approximately $2,061,205. This 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Piper Sandler dropped their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. 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 report on Monday, January 13th. Finally, Raymond James increased their price target 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. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Down 2.7 %

Shares of COP stock opened at $98.70 on Monday. The company has a market capitalization of $113.59 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.76 and a beta of 1.18. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company’s fifty day moving average price is $101.82 and its 200-day moving average price is $106.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last announced its quarterly 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 company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. Sell-side 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.