Skopos Labs Inc. Purchases New Shares in ConocoPhillips (NYSE:COP)

Skopos Labs Inc. acquired a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,883 shares of the energy producer’s stock, valued at approximately $683,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE increased its position in shares of ConocoPhillips by 2.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 136,383 shares of the energy producer’s stock worth $15,830,000 after acquiring an additional 3,277 shares during the last quarter. Advisory Services Network LLC increased its holdings in ConocoPhillips by 4.6% during the 4th quarter. Advisory Services Network LLC now owns 111,511 shares of the energy producer’s stock worth $12,943,000 after purchasing an additional 4,915 shares during the last quarter. Hoylecohen LLC raised its position in shares of ConocoPhillips by 1.7% in the 4th quarter. Hoylecohen LLC now owns 20,954 shares of the energy producer’s stock valued at $2,432,000 after purchasing an additional 349 shares in the last quarter. HCR Wealth Advisors increased its stake in shares of ConocoPhillips by 15.3% in the fourth quarter. HCR Wealth Advisors now owns 34,734 shares of the energy producer’s stock worth $4,032,000 after buying an additional 4,605 shares during the last quarter. Finally, ProVise Management Group LLC raised its holdings in ConocoPhillips by 8.0% in the fourth quarter. ProVise Management Group LLC now owns 43,412 shares of the energy producer’s stock valued at $5,039,000 after acquiring an additional 3,233 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.40 during midday trading on Friday, reaching $117.25. 2,851,101 shares of the company traded hands, compared to its average volume of 5,260,977. The stock has a 50-day moving average price of $125.98 and a 200 day moving average price of $117.74. The company has a market cap of $137.13 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.60 and a beta of 1.25. ConocoPhillips has a 52 week low of $98.38 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Sell-side analysts anticipate that ConocoPhillips will post 9.09 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 664,350 shares of company stock valued at $83,537,680. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on COP shares. Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Truist Financial reduced their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. UBS Group raised their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

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.