Synergy Asset Management LLC Makes New $56,000 Investment in ConocoPhillips (NYSE:COP)

Synergy Asset Management LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 535 shares of the energy producer’s stock, valued at approximately $56,000.

Several other institutional investors have also recently made changes to their positions in COP. Tidal Investments LLC lifted its position in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares during the period. Brookstone Capital Management lifted its position in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after acquiring an additional 383 shares during the period. Prospera Financial Services Inc lifted its position in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares during the period. The Manufacturers Life Insurance Company boosted its stake in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $135.89.

Insider Buying and Selling

In related news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of COP opened at $101.41 on Friday. The firm has a market capitalization of $116.71 billion, a P/E ratio of 12.06, a PEG ratio of 0.78 and a beta of 1.19. 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 $94.23 and a one year high of $135.18. The business has a fifty day moving average of $102.29 and a 200 day moving average of $106.86.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the company posted $2.16 EPS. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.64 EPS for the current year.

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.