2,626 Shares in ConocoPhillips (NYSE:COP) Acquired by Maiden Cove Capital LLC

Maiden Cove Capital LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,626 shares of the energy producer’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Crossmark Global Holdings Inc. grew its holdings in shares of ConocoPhillips by 3.1% during the third quarter. Crossmark Global Holdings Inc. now owns 88,449 shares of the energy producer’s stock valued at $9,312,000 after buying an additional 2,627 shares during the last quarter. Tyler Stone Wealth Management grew its stake in ConocoPhillips by 191.8% during the 3rd quarter. Tyler Stone Wealth Management now owns 5,463 shares of the energy producer’s stock valued at $575,000 after purchasing an additional 3,591 shares during the last quarter. Baker Avenue Asset Management LP increased its holdings in shares of ConocoPhillips by 1.8% in the third quarter. Baker Avenue Asset Management LP now owns 42,244 shares of the energy producer’s stock valued at $4,447,000 after purchasing an additional 744 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth about $219,000. Finally, Axxcess Wealth Management LLC boosted its position in ConocoPhillips by 0.6% in the third quarter. Axxcess Wealth Management LLC now owns 33,867 shares of the energy producer’s stock valued at $3,566,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.03 during midday trading on Friday, reaching $111.59. The company had a trading volume of 5,314,319 shares, compared to its average volume of 5,528,226. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The firm’s fifty day simple moving average is $107.73 and its 200-day simple moving average is $112.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $128.43 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. As a group, equities analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.80%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COP. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

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.