Sage Mountain Advisors LLC Buys 724 Shares of ConocoPhillips (NYSE:COP)

Sage Mountain Advisors LLC grew its stake in ConocoPhillips (NYSE:COP) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,111 shares of the energy producer’s stock after acquiring an additional 724 shares during the period. Sage Mountain Advisors LLC’s holdings in ConocoPhillips were worth $709,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COP. Alphinity Investment Management Pty Ltd bought a new position in ConocoPhillips during the third quarter worth about $310,102,000. Capital Wealth Planning LLC grew its holdings in ConocoPhillips by 45,426.8% during the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after purchasing an additional 1,425,946 shares during the period. Bank of New York Mellon Corp grew its holdings in ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after purchasing an additional 1,152,907 shares during the period. International Assets Investment Management LLC grew its holdings in ConocoPhillips by 13,905.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after purchasing an additional 1,106,305 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in ConocoPhillips during the third quarter worth about $99,676,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target for the company. Piper Sandler raised their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial cut their price objective on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. UBS Group raised their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Mizuho restated a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 over the last three months. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.0 %

NYSE COP opened at $129.33 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The company has a 50 day moving average of $120.93 and a 200-day moving average of $117.31. The company has a market cap of $152.15 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the business earned $2.71 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 9.47 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is currently 25.61%.

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.