ConocoPhillips (NYSE:COP) Shares Acquired by Norden Group LLC

Norden Group LLC grew its holdings in ConocoPhillips (NYSE:COP) by 2,634.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,440 shares of the energy producer’s stock after buying an additional 119,890 shares during the quarter. Norden Group LLC’s holdings in ConocoPhillips were worth $15,838,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in ConocoPhillips during the third quarter worth $27,000. West Branch Capital LLC raised its holdings in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Sachetta LLC acquired a new position in ConocoPhillips during the fourth quarter worth $27,000. Cooksen Wealth LLC acquired a new position in ConocoPhillips during the fourth quarter worth $27,000. Finally, Cape Investment Advisory Inc. raised its holdings in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COP shares. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Truist Financial lifted their price objective on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Mizuho cut their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Bank of America reissued a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $114.77 on Thursday. The firm has a market capitalization of $134.23 billion, a P/E ratio of 13.00, a PEG ratio of 2.03 and a beta of 1.23. The stock has a fifty day moving average price of $117.68 and a 200 day moving average price of $117.61. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Equities research analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.72%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

ConocoPhillips Company 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.