Alpha Wealth Funds LLC Purchases Shares of 4,000 ConocoPhillips (NYSE:COP)

Alpha Wealth Funds LLC purchased a new position in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the energy producer's stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares in the last quarter. Leavell Investment Management Inc. grew its position in shares of ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $1,767,000. Asset Management One Co. Ltd. grew its position in shares of ConocoPhillips by 11.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after purchasing an additional 54,196 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of ConocoPhillips by 7.4% during the fourth quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock worth $116,118,000 after purchasing an additional 80,199 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 0.6%

Shares of NYSE:COP traded down $0.48 on Friday, reaching $85.12. The company had a trading volume of 20,169,963 shares, compared to its average volume of 7,420,739. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The firm's 50 day simple moving average is $90.80 and its 200-day simple moving average is $97.62. The firm has a market capitalization of $107.61 billion, a PE ratio of 10.93, a PEG ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the business posted $2.05 EPS. As a group, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.67%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

Several research firms have weighed in on COP. Mizuho cut their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Piper Sandler cut their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada cut their price target on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Susquehanna cut their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus price target of $121.63.

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.