SteelPeak Wealth LLC Grows Position in ConocoPhillips (NYSE:COP)

SteelPeak Wealth LLC boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 214.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,149 shares of the energy producer's stock after acquiring an additional 10,332 shares during the quarter. SteelPeak Wealth LLC's holdings in ConocoPhillips were worth $1,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC grew its holdings in ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock worth $2,601,639,000 after acquiring an additional 924,289 shares in the last quarter. Franklin Resources Inc. increased its holdings in ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer's stock valued at $1,469,163,000 after buying an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.1 %

COP traded down $0.15 on Thursday, hitting $101.41. 4,046,791 shares of the company were exchanged, compared to its average volume of 5,682,248. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The firm has a 50-day moving average price of $102.29 and a two-hundred day moving average price of $106.86. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market cap of $116.71 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19.

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, beating analysts' consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company's revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm posted $2.16 EPS. On average, equities analysts predict that ConocoPhillips will post 7.65 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages have recently commented on COP. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Raymond James boosted their price target on ConocoPhillips from $148.00 to $157.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Evercore ISI reissued an "outperform" rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an "overweight" rating and a $128.00 price target on the stock. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $135.89.

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.