MGO One Seven LLC Purchases 5,370 Shares of ConocoPhillips $COP

MGO One Seven LLC grew its position in ConocoPhillips (NYSE:COP) by 16.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,756 shares of the energy producer’s stock after purchasing an additional 5,370 shares during the quarter. MGO One Seven LLC’s holdings in ConocoPhillips were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Tema Etfs LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $1,804,000. Victory Capital Management Inc. grew its stake in ConocoPhillips by 14.7% during the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after acquiring an additional 298,245 shares in the last quarter. Natixis Advisors LLC grew its stake in ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after acquiring an additional 160,410 shares in the last quarter. Chilton Capital Management LLC increased its holdings in ConocoPhillips by 3.2% in the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after acquiring an additional 11,958 shares during the last quarter. Finally, AE Wealth Management LLC increased its holdings in ConocoPhillips by 107.5% in the 3rd quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer’s stock valued at $9,783,000 after acquiring an additional 53,587 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Norway approved ConocoPhillips’ plan to restart and redevelop long-idle oil and gas fields in the Greater Ekofisk area, a project expected to increase gas deliveries to Europe and benefit from stronger European energy security demand. Article: ConocoPhillips gets Norway’s nod to restart fields, boost Europe gas supply
• Positive Sentiment: The company’s North Sea revival plan could unlock new gas volumes for Germany, the UK, and other European markets, reinforcing COP’s exposure to a potentially stronger gas pricing backdrop. Article: ConocoPhillips North Sea Revival Ties Undervalued Stock To European Gas Demand
• Neutral Sentiment: Investors are also parsing analyst questions from COP’s recent Q1 earnings call, suggesting the market is still focused on management’s guidance, capital plans, and the durability of the company’s earnings outlook. Article: The 5 most interesting analyst questions from ConocoPhillips’s Q1 earnings call
• Negative Sentiment: Freedom Capital downgraded ConocoPhillips from strong-buy to hold, which can weigh on sentiment and offset some of the optimism from the Norway project. Article: ConocoPhillips was downgraded by Freedom Capital from strong-buy to hold

Insider Activity

In other ConocoPhillips news, EVP Nicholas G. Olds sold 14,522 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the sale, the executive vice president owned 12,389 shares of the company’s stock, valued at $1,478,751.04. This trade represents a 53.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 506,800 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $127.26, for a total value of $64,495,368.00. Following the transaction, the chief executive officer owned 6,835 shares of the company’s stock, valued at $869,822.10. This trade represents a 98.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 734,891 shares of company stock worth $93,345,692 in the last 90 days. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $113.76 on Friday. The stock has a market cap of $138.59 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.60 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a 50 day moving average price of $122.69 and a 200-day moving average price of $105.12. ConocoPhillips has a one year low of $84.28 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. Equities analysts expect that ConocoPhillips will post 9.5 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Capital One Financial raised their price target on ConocoPhillips from $116.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, March 26th. Finally, The Goldman Sachs Group lifted their price objective on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.04.

ConocoPhillips Profile

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.