Gries Financial LLC Grows Position in ConocoPhillips (NYSE:COP)

Gries Financial LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,924 shares of the energy producer’s stock after acquiring an additional 413 shares during the quarter. Gries Financial LLC’s holdings in ConocoPhillips were worth $786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter worth $26,000. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $35,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

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

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $101.49 on Thursday. The stock has a market cap of $116.81 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. 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 stock has a 50 day moving average price of $102.53 and a 200-day moving average price of $106.90. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 7.65 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on COP shares. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley started coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $135.89.

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.