Onefund LLC Acquires 417 Shares of ConocoPhillips (NYSE:COP)

Onefund LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,469 shares of the energy producer’s stock after purchasing an additional 417 shares during the period. Onefund LLC’s holdings in ConocoPhillips were worth $344,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Hamel Associates Inc. raised its stake in shares of ConocoPhillips by 5.8% during the fourth quarter. Hamel Associates Inc. now owns 93,525 shares of the energy producer’s stock valued at $9,275,000 after acquiring an additional 5,107 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of ConocoPhillips by 5.7% during the fourth quarter. Jacobi Capital Management LLC now owns 28,072 shares of the energy producer’s stock valued at $2,784,000 after acquiring an additional 1,524 shares during the last quarter. Proffitt & Goodson Inc. raised its stake in shares of ConocoPhillips by 813.8% during the fourth quarter. Proffitt & Goodson Inc. now owns 859 shares of the energy producer’s stock valued at $85,000 after acquiring an additional 765 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of ConocoPhillips by 14.0% during the fourth quarter. Metis Global Partners LLC now owns 56,936 shares of the energy producer’s stock valued at $5,646,000 after acquiring an additional 7,004 shares during the last quarter. Finally, West Michigan Advisors LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $356,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of several recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Truist Financial increased their price target 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. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. 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 note on Monday, February 10th. Finally, Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insiders Place Their Bets

In related news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

Shares of COP opened at $99.12 on Friday. The company has a market capitalization of $126.12 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $100.19 and a 200 day moving average of $105.08. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.