Wexford Capital LP Purchases Shares of 6,266 ConocoPhillips (NYSE:COP)

Wexford Capital LP purchased a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,266 shares of the energy producer’s stock, valued at approximately $621,000.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $1,767,000. Asset Management One Co. Ltd. boosted its holdings in shares of ConocoPhillips by 11.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after purchasing an additional 54,196 shares during the last quarter. Finally, Baugh & Associates LLC raised its stake in shares of ConocoPhillips by 16.2% in the 4th quarter. Baugh & Associates LLC now owns 49,839 shares of the energy producer’s stock valued at $4,769,000 after acquiring an additional 6,956 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Scotiabank cut their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Piper Sandler cut their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Morgan Stanley raised their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada cut their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.74.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $92.34 on Monday. The company has a market capitalization of $116.73 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth 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 has a 12-month low of $79.88 and a 12-month high of $122.11. The firm’s fifty day moving average price is $93.24 and its 200 day moving average price is $98.96.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the business earned $2.05 EPS. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

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.