Mather Group LLC. Increases Holdings in ConocoPhillips (NYSE:COP)

Mather Group LLC. increased its holdings in ConocoPhillips (NYSE:COP) by 9.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 41,000 shares of the energy producer’s stock after buying an additional 3,382 shares during the period. Mather Group LLC.’s holdings in ConocoPhillips were worth $4,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Brown Lisle Cummings Inc. increased its stake in shares of ConocoPhillips by 22.1% in the fourth quarter. Brown Lisle Cummings Inc. now owns 1,261 shares of the energy producer’s stock worth $125,000 after acquiring an additional 228 shares during the period. Patron Partners LLC raised its stake in shares of ConocoPhillips by 22.0% during the 4th quarter. Patron Partners LLC now owns 4,978 shares of the energy producer’s stock valued at $494,000 after buying an additional 899 shares during the last quarter. abrdn plc lifted its holdings in shares of ConocoPhillips by 3.7% in the 4th quarter. abrdn plc now owns 536,700 shares of the energy producer’s stock valued at $52,795,000 after buying an additional 19,153 shares during the period. E&G Advisors LP purchased a new stake in shares of ConocoPhillips in the fourth quarter worth about $201,000. Finally, Alliance Wealth Advisors LLC UT grew its holdings in ConocoPhillips by 31.6% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 5,245 shares of the energy producer’s stock worth $520,000 after acquiring an additional 1,260 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated 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 owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction on 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 owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Raymond James raised their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Two 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, the company has a consensus rating of “Buy” and an average price target of $135.89.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE:COP opened at $98.47 on Tuesday. The business has a 50-day moving average price of $101.82 and a 200 day moving average price of $106.59. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $113.33 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.76 and a beta of 1.18.

About ConocoPhillips

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.