Recurrent Investment Advisors LLC Grows Stake in ConocoPhillips (NYSE:COP)

Recurrent Investment Advisors LLC increased its holdings in ConocoPhillips (NYSE:COP) by 111.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,436 shares of the energy producer’s stock after purchasing an additional 17,123 shares during the period. ConocoPhillips accounts for 0.3% of Recurrent Investment Advisors LLC’s holdings, making the stock its 24th biggest holding. Recurrent Investment Advisors LLC’s holdings in ConocoPhillips were worth $3,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. lifted its position in shares of ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares in the last quarter. Brookstone Capital Management boosted its stake in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in ConocoPhillips during the 4th quarter valued at approximately $1,767,000. Finally, Asset Management One Co. Ltd. increased its stake in ConocoPhillips by 11.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock worth $50,345,000 after acquiring an additional 54,196 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 1.5%

COP stock opened at $92.72 on Thursday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.11. The firm’s 50-day moving average is $93.29 and its 200 day moving average is $99.20. The company has a market capitalization of $117.21 billion, a PE ratio of 11.90, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio is 39.64%.

Analyst Ratings Changes

A number of research firms have recently commented on COP. Susquehanna lowered their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. UBS Group reduced their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Piper Sandler lowered their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.74.

About ConocoPhillips

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.