Caprock Group LLC Acquires 5,299 Shares of ConocoPhillips (NYSE:COP)

Caprock Group LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 19.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,671 shares of the energy producer’s stock after acquiring an additional 5,299 shares during the period. Caprock Group LLC’s holdings in ConocoPhillips were worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in COP. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in ConocoPhillips by 10.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 202,375 shares of the energy producer’s stock worth $23,148,000 after purchasing an additional 19,268 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of ConocoPhillips by 3.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 48,757 shares of the energy producer’s stock worth $5,133,000 after buying an additional 1,783 shares in the last quarter. AMF Tjanstepension AB boosted its position in shares of ConocoPhillips by 4.7% in the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after acquiring an additional 52,334 shares during the period. Czech National Bank grew its stake in shares of ConocoPhillips by 6.2% in the third quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock valued at $24,905,000 after acquiring an additional 13,707 shares in the last quarter. Finally, Fluent Financial LLC raised its stake in ConocoPhillips by 9.4% in the 3rd quarter. Fluent Financial LLC now owns 30,623 shares of the energy producer’s stock worth $3,224,000 after purchasing an additional 2,623 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $98.70 on Friday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $113.59 billion, a PE ratio of 11.74, a PEG ratio of 0.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm’s fifty day moving average price is $102.08 and its two-hundred day moving average price is $106.82.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, equities analysts expect that ConocoPhillips will post 7.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COP shares. Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $135.89.

Insiders Place Their Bets

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.