Novem Group Buys New Holdings in ConocoPhillips (NYSE:COP)

Novem Group purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,559 shares of the energy producer’s stock, valued at approximately $4,121,000.

A number of other large investors also recently modified their holdings of COP. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $28,000. Finally, Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $32,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COP shares. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Wells Fargo & Company decreased their target price on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Barclays decreased their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

ConocoPhillips Stock Down 0.9%

NYSE:COP opened at $89.63 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market capitalization of $113.31 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a one year low of $79.88 and a one year high of $121.73. The stock has a 50-day simple moving average of $92.96 and a 200 day simple moving average of $98.77.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping 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 company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the business posted $2.05 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

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.