Easterly Investment Partners LLC Acquires Shares of 70,657 ConocoPhillips (NYSE:COP)

Easterly Investment Partners LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 70,657 shares of the energy producer’s stock, valued at approximately $7,007,000.

Several other large investors have also made changes to their positions in COP. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Barclays dropped their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler cut their price objective 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. Finally, TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE COP opened at $103.15 on Thursday. The stock has a market cap of $131.25 billion, a P/E ratio of 13.24, a PEG ratio of 0.79 and a beta of 1.12. The business’s fifty day simple moving average is $99.08 and its 200-day simple moving average is $103.31. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.