Syntax Research Inc. Acquires Shares of 30,727 ConocoPhillips (NYSE:COP)

Syntax Research Inc. bought a new position in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 30,727 shares of the energy producer’s stock, valued at approximately $3,235,000. ConocoPhillips makes up about 2.2% of Syntax Research Inc.’s investment portfolio, making the stock its 17th biggest position.

Other hedge funds also recently modified their holdings of the company. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter worth about $26,000. Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the third quarter worth $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $98.27 on Wednesday. The stock has a market capitalization of $113.10 billion, a PE ratio of 11.68, a PEG ratio of 0.83 and a beta of 1.18. The business’s 50 day simple moving average is $107.21 and its 200 day simple moving average is $109.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a one year low of $96.75 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. 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 annualized dividend and a dividend yield of 3.17%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COP shares. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday. They issued an “overweight” rating and a $128.00 target price for the company. Mizuho raised 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 report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $139.24.

ConocoPhillips Company 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.