ConocoPhillips $COP Shares Purchased by Impact Partnership Wealth LLC

Key Points

• Impact Partnership Wealth LLC increased its ConocoPhillips stake by 287.5% in the fourth quarter, ending with 22,352 shares worth about $2.09 million.
• ConocoPhillips reported quarterly EPS of $1.89, beating analyst expectations of $1.72, and revenue of $15.76 billion, slightly above forecasts.
• The company declared a quarterly dividend of $0.84 per share, equal to an annualized yield of 2.9%, while analysts maintain a consensus rating of Moderate Buy.

Impact Partnership Wealth LLC raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 287.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,352 shares of the energy producer's stock after acquiring an additional 16,583 shares during the quarter. Impact Partnership Wealth LLC's holdings in ConocoPhillips were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in COP. Capital International Investors increased its holdings in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer's stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA increased its holdings in ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer's stock valued at $979,102,000 after acquiring an additional 2,467,555 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock valued at $1,228,886,000 after acquiring an additional 2,216,010 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in ConocoPhillips during the 3rd quarter valued at about $135,265,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in ConocoPhillips during the 4th quarter valued at about $128,470,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Morgan Stanley raised their target price on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. UBS Group raised their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Sanford C. Bernstein raised their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Piper Sandler raised their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average target price of $134.60.

ConocoPhillips Price Performance

COP opened at $114.01 on Friday. The company's 50 day simple moving average is $123.09 and its 200 day simple moving average is $108.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $84.33 and a 1 year high of $135.87. The stock has a market capitalization of $138.90 billion, a PE ratio of 19.36, a P/E/G ratio of 1.29 and a beta of 0.14.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts' expectations of $15.62 billion. During the same period last year, the company earned $2.09 earnings per share. The company's quarterly revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts expect that ConocoPhillips will post 9.92 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips's payout ratio is 57.05%.

Insider Activity

In other ConocoPhillips news, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares of the company's stock, valued at $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the transaction, the executive vice president directly owned 12,389 shares in the company, valued at approximately $1,478,751.04. This trade represents a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 734,891 shares of company stock valued at $93,345,692 over the last quarter. 0.09% of the stock is owned by insiders.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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