Freestone Grove Partners LP Takes Position in ConocoPhillips (NYSE:COP)

Freestone Grove Partners LP acquired a new position in ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 990,850 shares of the energy producer's stock, valued at approximately $98,263,000. ConocoPhillips accounts for about 1.2% of Freestone Grove Partners LP's holdings, making the stock its 6th largest position. Freestone Grove Partners LP owned 0.09% of ConocoPhillips as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. One68 Global Capital LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $496,000. Navigoe LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $59,000. Triumph Capital Management raised its position in shares of ConocoPhillips by 6.7% in the fourth quarter. Triumph Capital Management now owns 2,364 shares of the energy producer's stock worth $234,000 after buying an additional 149 shares in the last quarter. Kapitalo Investimentos Ltda boosted its stake in ConocoPhillips by 24.7% during the fourth quarter. Kapitalo Investimentos Ltda now owns 4,459 shares of the energy producer's stock valued at $442,000 after buying an additional 883 shares during the period. Finally, Regal Partners Ltd grew its position in ConocoPhillips by 190.6% during the fourth quarter. Regal Partners Ltd now owns 48,223 shares of the energy producer's stock worth $4,782,000 after buying an additional 31,631 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 4.2 %

ConocoPhillips stock traded down $3.80 during trading hours on Monday, hitting $87.61. The company had a trading volume of 9,184,659 shares, compared to its average volume of 7,189,501. The firm has a market cap of $110.75 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a 50-day moving average price of $93.78 and a two-hundred day moving average price of $99.95. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $125.22. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. ConocoPhillips's dividend payout ratio is presently 40.05%.

Analyst Ratings Changes

Several research analysts have recently commented on COP shares. Bank of America lowered ConocoPhillips from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Scotiabank dropped their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, UBS Group dropped their price target on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $124.79.

ConocoPhillips 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.