ConocoPhillips (NYSE:COP) Stock Holdings Increased by Peirce Capital Management LLC

Peirce Capital Management LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 69.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,534 shares of the energy producer’s stock after buying an additional 1,860 shares during the period. ConocoPhillips comprises 0.2% of Peirce Capital Management LLC’s portfolio, making the stock its 24th largest position. Peirce Capital Management LLC’s holdings in ConocoPhillips were worth $450,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in COP. Global Wealth Strategies & Associates raised its stake in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares during the period. Confluence Investment Management LLC boosted its position in ConocoPhillips by 5.3% during the 4th quarter. Confluence Investment Management LLC now owns 5,852 shares of the energy producer’s stock valued at $580,000 after purchasing an additional 297 shares during the period. Principal Financial Group Inc. grew its stake in ConocoPhillips by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after buying an additional 32,948 shares during the last quarter. IMS Capital Management increased its position in ConocoPhillips by 20.1% in the third quarter. IMS Capital Management now owns 2,991 shares of the energy producer’s stock worth $315,000 after buying an additional 500 shares during the period. Finally, Syntax Research Inc. bought a new stake in ConocoPhillips in the third quarter valued at $3,235,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP traded up $0.87 during mid-day trading on Thursday, hitting $100.04. The company’s stock had a trading volume of 3,726,453 shares, compared to its average volume of 6,137,225. 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 firm has a 50-day moving average price of $104.94 and a 200 day moving average price of $108.25. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market capitalization of $115.14 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share. On average, research analysts predict that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on COP. Piper Sandler lowered their price target 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. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $136.71.

Insider Activity

In other ConocoPhillips 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 cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

About ConocoPhillips

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.