PFG Investments LLC Grows Position in ConocoPhillips (NYSE:COP)

PFG Investments LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 579.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,026 shares of the energy producer's stock after buying an additional 11,108 shares during the period. PFG Investments LLC's holdings in ConocoPhillips were worth $1,658,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at $27,000. West Branch Capital LLC boosted its position in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer's stock valued at $27,000 after buying an additional 108 shares during the last quarter. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $27,000. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $27,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter valued at $31,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays initiated coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an "overweight" rating and a $158.00 price objective on the stock. Truist Financial lowered their target price on ConocoPhillips from $173.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Susquehanna increased their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a "positive" rating in a report on Monday, April 22nd. Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Finally, Scotiabank increased their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a "sector perform" rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $143.24.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $0.13 during trading on Friday, hitting $130.24. 4,823,139 shares of the company's stock were exchanged, compared to its average volume of 3,808,210. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The business's 50-day simple moving average is $122.49 and its 200 day simple moving average is $117.62. The company has a market cap of $153.22 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $14.47 billion. During the same quarter last year, the business posted $2.71 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's dividend payout ratio (DPR) is currently 25.61%.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is owned by corporate insiders.

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.

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