ConocoPhillips (NYSE:COP) Shares Acquired by Mattern Capital Management LLC

Mattern Capital Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,637 shares of the energy producer’s stock after buying an additional 1,051 shares during the quarter. Mattern Capital Management LLC’s holdings in ConocoPhillips were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter valued at about $26,000. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Ruedi Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Valued Wealth Advisors LLC grew its position in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the second quarter worth $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $104.56 on Friday. The firm’s 50 day moving average is $108.47 and its two-hundred day moving average is $113.82. The firm has a market capitalization of $122.29 billion, a P/E ratio of 11.84, a PEG ratio of 0.84 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.94.

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.