33,510 Shares in ConocoPhillips $COP Bought by Marble Wealth LLC

by · The Markets Daily

Marble Wealth LLC bought a new position in shares of ConocoPhillips (NYSE:COP – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 33,510 shares of the energy producer’s stock, valued at approximately $3,137,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Capital International Investors grew its stake in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after purchasing an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA grew its stake in ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after purchasing an additional 2,467,555 shares in the last quarter. Ameriprise Financial Inc. grew its stake in ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in ConocoPhillips during the 3rd quarter worth $135,265,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in ConocoPhillips during the 4th quarter worth $128,470,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 1.0%

Shares of NYSE COP opened at $116.78 on Wednesday. The stock has a market cap of $142.27 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $85.23 and a 52-week high of $135.87. The business has a 50-day moving average price of $122.88 and a 200 day moving average price of $108.78.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Equities research analysts forecast that ConocoPhillips will post 9.92 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on COP shares. Zacks Research cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Piper Sandler upped their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Jefferies Financial Group upped their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Morgan Stanley upped their price objective on ConocoPhillips from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Finally, Scotiabank upped their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.48.

Read Our Latest Analysis on COP

Insider Transactions at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the sale, the senior vice president directly owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This represents a 66.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president directly owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 734,891 shares of company stock worth $93,345,692. Insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

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