ConocoPhillips (NYSE:COP) Shares Acquired by Tanglewood Legacy Advisors LLC

Tanglewood Legacy Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 80.4% during the 4th quarter, HoldingsChannel reports. The fund owned 3,248 shares of the energy producer’s stock after acquiring an additional 1,448 shares during the quarter. Tanglewood Legacy Advisors LLC’s holdings in ConocoPhillips were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COP. Members Trust Co increased its holdings in shares of ConocoPhillips by 20.9% during the 4th quarter. Members Trust Co now owns 3,859 shares of the energy producer’s stock worth $383,000 after buying an additional 668 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its stake in ConocoPhillips by 2.6% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 12,764 shares of the energy producer’s stock worth $1,266,000 after acquiring an additional 321 shares during the last quarter. Hickory Asset Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter valued at $330,000. Manchester Capital Management LLC lifted its stake in shares of ConocoPhillips by 52.6% in the 4th quarter. Manchester Capital Management LLC now owns 1,499 shares of the energy producer’s stock valued at $149,000 after purchasing an additional 517 shares during the last quarter. Finally, Scarborough Advisors LLC increased its position in shares of ConocoPhillips by 12.6% during the 4th quarter. Scarborough Advisors LLC now owns 2,972 shares of the energy producer’s stock worth $295,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on COP shares. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. UBS Group dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Truist Financial lifted 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. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % 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 R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, 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. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Price Performance

Shares of COP opened at $96.39 on Friday. The firm has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. The firm’s fifty day simple moving average is $100.44 and its 200-day simple moving average is $105.76. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm 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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 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.