Trek Financial LLC Has $1.25 Million Holdings in ConocoPhillips (NYSE:COP)

Trek Financial LLC grew its holdings in ConocoPhillips (NYSE:COP) by 49.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,578 shares of the energy producer’s stock after buying an additional 4,182 shares during the period. Trek Financial LLC’s holdings in ConocoPhillips were worth $1,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Kovitz Investment Group Partners LLC raised its position in shares of ConocoPhillips by 164.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer’s stock valued at $6,293,000 after purchasing an additional 37,201 shares during the period. EP Wealth Advisors LLC raised its holdings in ConocoPhillips by 22.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer’s stock valued at $4,073,000 after acquiring an additional 7,131 shares during the period. iA Global Asset Management Inc. lifted its position in ConocoPhillips by 9.1% during the third quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer’s stock worth $2,562,000 after acquiring an additional 2,033 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of ConocoPhillips by 15.7% during the third quarter. National Bank of Canada FI now owns 735,557 shares of the energy producer’s stock worth $77,439,000 after acquiring an additional 99,972 shares during the period. Finally, DF Dent & Co. Inc. grew its position in shares of ConocoPhillips by 88.4% in the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer’s stock valued at $655,000 after purchasing an additional 2,920 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 9.5 %

COP stock opened at $86.18 on Monday. The firm has a 50-day moving average price of $98.53 and a 200-day moving average price of $103.06. ConocoPhillips has a 12 month low of $81.34 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. The stock has a market capitalization of $108.95 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Morgan Stanley decreased their price objective on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Truist Financial lifted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

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.