Sargent Investment Group LLC Purchases 8,945 Shares of ConocoPhillips (NYSE:COP)

Sargent Investment Group LLC boosted its position in ConocoPhillips (NYSE:COP) by 71.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,501 shares of the energy producer’s stock after purchasing an additional 8,945 shares during the quarter. Sargent Investment Group LLC’s holdings in ConocoPhillips were worth $2,241,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two research 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 company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $135.89.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Price Performance

Shares of NYSE COP opened at $100.61 on Wednesday. The firm has a market capitalization of $115.80 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock’s 50-day simple moving average is $101.67 and its 200-day simple moving average is $106.46. 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 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.