Hoey Investments Inc. Has $71,000 Stock Position in ConocoPhillips (NYSE:COP)

Hoey Investments Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 779.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 712 shares of the energy producer’s stock after purchasing an additional 631 shares during the period. Hoey Investments Inc.’s holdings in ConocoPhillips were worth $71,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.4 %

NYSE COP opened at $102.37 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $130.26 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. The company has a 50 day moving average of $98.95 and a 200-day moving average of $103.28. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips’s payout ratio is 40.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COP shares. JPMorgan Chase & Co. decreased their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Morgan Stanley dropped their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, Barclays reduced their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.95.

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.