24,679 Shares in ConocoPhillips (NYSE:COP) Purchased by Generali Investments Management Co LLC

Generali Investments Management Co LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel reports. The firm acquired 24,679 shares of the energy producer’s stock, valued at approximately $2,447,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter worth about $31,000. RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter worth about $35,000. Finally, Marshall Investment Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 1.2 %

Shares of ConocoPhillips stock opened at $100.51 on Wednesday. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a 50 day moving average of $99.19 and a 200 day moving average of $103.56. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $127.88 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.10%. ConocoPhillips’s payout ratio is currently 40.05%.

Insiders Place Their Bets

In related news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COP. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Two research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

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.