Reliant Investment Management LLC Has $5.47 Million Stake in ConocoPhillips (NYSE:COP)

21 Jan 2025, 13:28 by Renee Jackson · The Cerbat Gem

Reliant Investment Management LLC lifted its stake in ConocoPhillips (NYSE:COP – Free Report) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 55,121 shares of the energy producer’s stock after buying an additional 1,270 shares during the period. ConocoPhillips accounts for approximately 2.4% of Reliant Investment Management LLC’s holdings, making the stock its 20th largest holding. Reliant Investment Management LLC’s holdings in ConocoPhillips were worth $5,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. State Street Corp increased its position in shares of ConocoPhillips by 19.0% in the third 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 last quarter. Wellington Management Group LLP increased its position 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 during the last quarter. Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on COP shares. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company reduced their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $136.00.

Get Our Latest Stock Report on ConocoPhillips

ConocoPhillips Stock Up 0.1 %

Shares of COP opened at $105.76 on Tuesday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a market cap of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $103.79 and a two-hundred day simple moving average of $107.37.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Profile

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