Procyon Advisors LLC Has $1.87 Million Position in ConocoPhillips (NYSE:COP)

Procyon Advisors LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,838 shares of the energy producer's stock after purchasing an additional 2,859 shares during the period. Procyon Advisors LLC's holdings in ConocoPhillips were worth $1,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC grew its stake in shares of ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock valued at $10,902,000 after buying an additional 31,011 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock worth $1,879,000 after acquiring an additional 7,490 shares in the last quarter. Brookstone Capital Management increased its stake in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after purchasing an additional 383 shares during the last quarter. Prospera Financial Services Inc lifted its stake in shares of ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock valued at $7,488,000 after purchasing an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock worth $262,094,000 after purchasing an additional 46,621 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

NYSE:COP traded up $0.15 during mid-day trading on Friday, hitting $105.76. The company's stock had a trading volume of 8,546,391 shares, compared to its average volume of 6,479,072. The company has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a fifty day moving average of $103.79 and a 200-day moving average of $107.47.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company earned $2.16 EPS. ConocoPhillips's revenue was down 8.5% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. ConocoPhillips's dividend payout ratio is presently 37.10%.

Insider Buying and Selling

In related news, Director Arjun N. Murti acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was purchased 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 of the company's stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company's stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Piper Sandler reduced their target price on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded ConocoPhillips from a "neutral" rating to an "overweight" rating and increased their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Evercore ISI restated an "outperform" rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $136.00.

ConocoPhillips Company 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.