Sivia Capital Partners LLC Has $296,000 Stake in ConocoPhillips (NYSE:COP)

Sivia Capital Partners LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 44.9% during the fourth quarter, Holdings Channel reports. The fund owned 2,986 shares of the energy producer’s stock after acquiring an additional 925 shares during the quarter. Sivia Capital Partners LLC’s holdings in ConocoPhillips were worth $296,000 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. State Street Corp raised its position in shares of ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP grew its stake in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC raised its holdings in ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the period. Franklin Resources Inc. lifted its position in ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade 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 company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $136.76.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $2.02 during midday trading on Monday, hitting $103.94. 5,091,150 shares of the company traded hands, compared to its average volume of 5,552,227. The firm’s fifty day moving average price is $104.39 and its 200-day moving average price is $107.70. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. 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 stock has a market cap of $119.63 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.