First Citizens Financial Corp purchased a new position in ConocoPhillips (NYSE:COP – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,948 shares of the energy producer’s stock, valued at approximately $230,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Prelude Capital Management LLC grew its holdings in ConocoPhillips by 123.0% in the second quarter. Prelude Capital Management LLC now owns 37,354 shares of the energy producer’s stock valued at $3,355,000 after purchasing an additional 20,605 shares during the period. Renaissance Technologies LLC increased its holdings in shares of ConocoPhillips by 67.7% during the 2nd quarter. Renaissance Technologies LLC now owns 931,308 shares of the energy producer’s stock worth $83,641,000 after buying an additional 375,900 shares during the last quarter. PFS Investments Inc. raised its position in shares of ConocoPhillips by 12.9% in the 3rd quarter. PFS Investments Inc. now owns 6,431 shares of the energy producer’s stock worth $658,000 after buying an additional 733 shares during the period. CAPROCK Group Inc. boosted its holdings in ConocoPhillips by 60.5% in the third quarter. CAPROCK Group Inc. now owns 7,683 shares of the energy producer’s stock valued at $797,000 after acquiring an additional 2,895 shares during the last quarter. Finally, United Services Automobile Association grew its position in ConocoPhillips by 2.7% during the third quarter. United Services Automobile Association now owns 48,959 shares of the energy producer’s stock valued at $5,011,000 after acquiring an additional 1,281 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on COP. Truist Financial raised their price objective on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. StockNews.com started coverage on shares of ConocoPhillips in a research report on Thursday. They set a “hold” rating on the stock. Barclays increased their price objective on shares of ConocoPhillips from $151.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, January 23rd. Credit Suisse Group reduced their target price on shares of ConocoPhillips from $145.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Finally, Raymond James lowered their price target on ConocoPhillips from $150.00 to $135.00 and set a “strong-buy” rating for the company in a report on Thursday, January 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.86.
Insider Activity at ConocoPhillips
ConocoPhillips Stock Down 2.1 %
Shares of ConocoPhillips stock traded down $2.01 on Friday, hitting $94.39. 17,056,186 shares of the company’s stock traded hands, compared to its average volume of 6,760,684. ConocoPhillips has a 52-week low of $78.30 and a 52-week high of $138.49. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $115.04 billion, a P/E ratio of 6.51, a PEG ratio of 0.51 and a beta of 1.29. The firm’s 50-day moving average is $111.37 and its 200 day moving average is $115.69.
ConocoPhillips (NYSE:COP – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The energy producer reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). The company had revenue of $19.26 billion for the quarter, compared to the consensus estimate of $18.16 billion. ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.27 earnings per share. Equities analysts anticipate that ConocoPhillips will post 11.79 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 29th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $2.04 dividend on an annualized basis and a yield of 2.16%. ConocoPhillips’s dividend payout ratio (DPR) is 14.06%.
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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