Mcdonald Partners LLC Acquires 3,006 Shares of ConocoPhillips (NYSE:COP)

Mcdonald Partners LLC grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,539 shares of the energy producer's stock after acquiring an additional 3,006 shares during the quarter. Mcdonald Partners LLC's holdings in ConocoPhillips were worth $2,136,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. bought a new stake in ConocoPhillips during the third quarter worth about $26,000. Albion Financial Group UT raised its stake in shares of 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. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips in the third quarter valued at $35,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COP. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an "overweight" rating and a $128.00 price target for the company. Evercore ISI reiterated an "outperform" rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.56.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R A. Walker bought 10,400 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company's stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company's stock.

ConocoPhillips Trading Down 4.0 %

NYSE:COP traded down $4.10 on Friday, reaching $97.90. 8,561,843 shares of the stock traded hands, compared to its average volume of 6,781,136. The firm has a market capitalization of $124.57 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. The company's 50 day moving average is $100.11 and its 200-day moving average is $105.44. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.19%. ConocoPhillips's payout ratio is currently 40.05%.

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.