Hudson Edge Investment Partners Inc. Acquires 8,628 Shares of ConocoPhillips $COP

Hudson Edge Investment Partners Inc. lifted its position in ConocoPhillips (NYSE:COP) by 17.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,192 shares of the energy producer’s stock after purchasing an additional 8,628 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in ConocoPhillips were worth $5,599,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Navalign LLC lifted its position in ConocoPhillips by 1.1% during the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after purchasing an additional 108 shares during the period. Greenfield Savings Bank grew its position in shares of ConocoPhillips by 1.2% in the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after purchasing an additional 108 shares during the period. Tritonpoint Wealth LLC increased its position in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares in the last quarter. Iowa State Bank raised its stake in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the period. Finally, Perennial Investment Advisors LLC lifted its stake in ConocoPhillips by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $97.13 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $93.11 and a 200-day moving average price of $92.97. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The company has a market cap of $120.03 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $1.78 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is presently 47.52%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research note on Monday, December 15th. Capital One Financial raised their price target on shares of ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Finally, Bank of America reissued an “underperform” rating and set a $102.00 target price on shares of ConocoPhillips in a research note on Friday, January 16th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

ConocoPhillips Company Profile

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.