Oak Harvest Investment Services Purchases New Shares in ConocoPhillips (NYSE:COP)

Oak Harvest Investment Services acquired a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,661 shares of the energy producer’s stock, valued at approximately $363,000.

Other large investors also recently made changes to their positions in the company. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the third quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE COP opened at $101.41 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company’s 50 day moving average price is $102.29 and its 200-day moving average price is $106.86. The company has a market capitalization of $116.72 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.78 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. Equities analysts forecast that ConocoPhillips will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $135.89.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price 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 approximately $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % 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 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.