Cornercap Investment Counsel Inc. Purchases 13,881 Shares of ConocoPhillips (NYSE:COP)

Cornercap Investment Counsel Inc. lifted its position in shares of ConocoPhillips (NYSE:COP) by 105.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,067 shares of the energy producer’s stock after buying an additional 13,881 shares during the quarter. ConocoPhillips makes up about 0.9% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 5th largest position. Cornercap Investment Counsel Inc.’s holdings in ConocoPhillips were worth $2,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $36,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Price Performance

COP opened at $102.37 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a 50-day moving average of $98.95 and a 200-day moving average of $103.28. The company has a market capitalization of $130.26 billion, a P/E ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 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.