Regatta Capital Group LLC Has $352,000 Holdings in ConocoPhillips (NYSE:COP)

Regatta Capital Group LLC lifted its position in ConocoPhillips (NYSE:COP) by 28.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,547 shares of the energy producer’s stock after acquiring an additional 787 shares during the quarter. Regatta Capital Group LLC’s holdings in ConocoPhillips were worth $352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cypress Capital Group lifted its stake in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the period. Aprio Wealth Management LLC raised its holdings in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after buying an additional 97 shares in the last quarter. Smithfield Trust Co lifted its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after buying an additional 100 shares during the period. Ignite Planners LLC boosted its stake in ConocoPhillips by 1.0% in the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after buying an additional 102 shares in the last quarter. Finally, Asset Dedication LLC grew its position in ConocoPhillips by 2.5% in the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Raymond James boosted their target price on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $135.89.

Insider Buying and Selling

In other news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This 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 owned by insiders.

ConocoPhillips Price Performance

Shares of COP stock opened at $101.88 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a market cap of $117.26 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19. The stock has a 50-day moving average price of $102.98 and a 200 day moving average price of $107.13.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the business posted $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

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.