TCW Group Inc. Makes New Investment in ConocoPhillips (NYSE:COP)

TCW Group Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,320 shares of the energy producer’s stock, valued at approximately $2,715,000.

Several other institutional investors have also recently made changes to their positions in COP. Orion Capital Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at about $27,000. West Branch Capital LLC raised its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC bought a new position in ConocoPhillips in the fourth quarter worth approximately $27,000. Oliver Lagore Vanvalin Investment Group lifted its holdings in ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the period. Finally, Private Wealth Management Group LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $0.40 on Friday, reaching $117.25. 2,851,146 shares of the stock were exchanged, compared to its average volume of 5,001,379. ConocoPhillips has a twelve month low of $98.38 and a twelve month high of $135.18. The business has a 50 day moving average price of $125.92 and a two-hundred day moving average price of $117.73. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $137.13 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 2.59 and a beta of 1.25.

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

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Truist Financial reduced their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Piper Sandler raised their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Susquehanna boosted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Barclays started coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Finally, Mizuho lifted their price target on shares of ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Activity at ConocoPhillips

In other news, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was 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 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 664,350 shares of company stock worth $83,537,680. 0.34% of the stock is owned by corporate insiders.

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.