ConocoPhillips (NYSE:COP) is SCP Investment LP’s 7th Largest Position

SCP Investment LP raised its position in ConocoPhillips (NYSE:COP) by 78.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 37,668 shares of the energy producer’s stock after buying an additional 16,600 shares during the quarter. ConocoPhillips makes up approximately 2.9% of SCP Investment LP’s holdings, making the stock its 7th largest holding. SCP Investment LP’s holdings in ConocoPhillips were worth $3,736,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of COP. Bridgewater Associates LP lifted its position in shares of ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after buying an additional 1,141 shares during the last quarter. CreativeOne Wealth LLC boosted its position in ConocoPhillips by 20.6% during the third quarter. CreativeOne Wealth LLC now owns 9,906 shares of the energy producer’s stock worth $1,043,000 after purchasing an additional 1,690 shares during the period. Icon Wealth Advisors LLC raised its position in shares of ConocoPhillips by 1.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,998 shares of the energy producer’s stock valued at $1,263,000 after purchasing an additional 183 shares during the period. Circle Wealth Management LLC lifted its stake in shares of ConocoPhillips by 6.0% in the third quarter. Circle Wealth Management LLC now owns 9,352 shares of the energy producer’s stock worth $985,000 after buying an additional 533 shares during the last quarter. Finally, Point72 Europe London LLP boosted its holdings in shares of ConocoPhillips by 32.2% during the 3rd quarter. Point72 Europe London LLP now owns 315,529 shares of the energy producer’s stock worth $33,219,000 after buying an additional 76,845 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays cut their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $102.37 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business’s fifty day moving average price is $98.95 and its two-hundred day moving average price is $103.27. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The stock has a market capitalization of $130.26 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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, analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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