Kieckhefer Group LLC Invests $4.79 Million in ConocoPhillips (NYSE:COP)

Kieckhefer Group LLC acquired a new position in ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 48,302 shares of the energy producer’s stock, valued at approximately $4,790,000. ConocoPhillips makes up approximately 2.9% of Kieckhefer Group LLC’s holdings, making the stock its 8th largest position.

Other hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the third quarter worth $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in ConocoPhillips during the third quarter worth $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP traded up $2.10 during midday trading on Monday, hitting $104.02. The company had a trading volume of 2,757,427 shares, compared to its average volume of 5,165,203. The stock has a market cap of $119.72 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.83 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The firm has a fifty day simple moving average of $104.39 and a two-hundred day simple moving average of $107.70.

ConocoPhillips (NYSE:COP) last issued its 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 business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $136.76.

Insider Buying and Selling

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

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.