Tema Etfs LLC Invests $1.80 Million in ConocoPhillips $COP

Tema Etfs LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, HoldingsChannel reports. The firm purchased 19,076 shares of the energy producer’s stock, valued at approximately $1,804,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Howard Hughes Medical Institute bought a new position in shares of ConocoPhillips in the 2nd quarter worth about $25,000. Bogart Wealth LLC raised its position in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. Activest Wealth Management boosted its stake in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Finally, BNP Paribas bought a new stake in ConocoPhillips during the second quarter worth $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on COP. Piper Sandler lowered their target price on ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho lifted their price objective on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Susquehanna decreased their price target on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Royal Bank Of Canada lifted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $112.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $111.92.

Insider Buying and Selling

In related news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. The trade was a 60.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $95.49 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The stock has a market capitalization of $118.00 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 2.64 and a beta of 0.32. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The stock’s 50-day simple moving average is $91.74 and its 200 day simple moving average is $92.71.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.5%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.