Bourgeon Capital Management LLC Increases Position in ConocoPhillips (NYSE:COP)

Bourgeon Capital Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,694 shares of the energy producer’s stock after acquiring an additional 509 shares during the period. ConocoPhillips accounts for 1.7% of Bourgeon Capital Management LLC’s portfolio, making the stock its 28th largest position. Bourgeon Capital Management LLC’s holdings in ConocoPhillips were worth $8,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at about $31,000. Global Wealth Strategies & Associates raised its position in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Wells Fargo & Company lowered their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $136.00.

ConocoPhillips Stock Down 1.5 %

NYSE COP opened at $104.25 on Wednesday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The business has a fifty day moving average price of $103.67 and a 200 day moving average price of $107.31. The company has a market cap of $119.98 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

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.