Mach 1 Financial Group LLC Has $1.63 Million Stake in ConocoPhillips (NYSE:COP)

Mach 1 Financial Group LLC grew its holdings in ConocoPhillips (NYSE:COP) by 51.5% in the 4th quarter, Holdings Channel reports. The fund owned 14,074 shares of the energy producer’s stock after purchasing an additional 4,782 shares during the quarter. Mach 1 Financial Group LLC’s holdings in ConocoPhillips were worth $1,634,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ConocoPhillips by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after purchasing an additional 1,152,907 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares during the last quarter. Lazard Asset Management LLC increased its stake in ConocoPhillips by 1.1% during the 3rd quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock worth $848,984,000 after acquiring an additional 74,278 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock worth $775,416,000 after acquiring an additional 33,466 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $4.60 during trading on Tuesday, hitting $125.62. 6,288,234 shares of the company were exchanged, compared to its average volume of 5,343,554. The company has a market cap of $147.78 billion, a PE ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.24. The stock has a 50 day moving average of $123.20 and a 200 day moving average of $117.67. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the firm earned $2.71 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction 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 $853,669.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Truist Financial decreased their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Piper Sandler boosted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Susquehanna boosted their price objective on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Finally, Raymond James decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips 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.