Golden State Equity Partners Has $704,000 Holdings in ConocoPhillips (NYSE:COP)

Golden State Equity Partners grew its stake in shares of ConocoPhillips (NYSE:COP) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,069 shares of the energy producer’s stock after acquiring an additional 287 shares during the period. Golden State Equity Partners’ holdings in ConocoPhillips were worth $704,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jackson Hole Capital Partners LLC increased its holdings in shares of ConocoPhillips by 42.0% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 13,366 shares of the energy producer’s stock worth $1,551,000 after purchasing an additional 3,955 shares during the period. VCI Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth approximately $931,000. Syon Capital LLC increased its holdings in shares of ConocoPhillips by 38.5% during the fourth quarter. Syon Capital LLC now owns 26,139 shares of the energy producer’s stock worth $3,034,000 after purchasing an additional 7,260 shares during the period. Lyell Wealth Management LP increased its holdings in shares of ConocoPhillips by 2.9% during the fourth quarter. Lyell Wealth Management LP now owns 48,866 shares of the energy producer’s stock worth $5,672,000 after purchasing an additional 1,383 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,701 shares of the energy producer’s stock worth $5,769,000 after purchasing an additional 1,452 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COP. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Truist Financial decreased their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Mizuho reiterated a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Finally, Barclays started coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE:COP traded up $0.13 during midday trading on Friday, hitting $130.24. 4,823,139 shares of the company’s stock were exchanged, compared to its average volume of 3,808,210. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The stock has a 50 day moving average price of $122.49 and a 200-day moving average price of $117.64. The company has a market cap of $153.22 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.34% of the company’s stock.

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.