DAVENPORT & Co LLC Has $5.60 Million Holdings in ConocoPhillips (NYSE:COP)

DAVENPORT & Co LLC grew its holdings in ConocoPhillips (NYSE:COP) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 56,441 shares of the energy producer’s stock after acquiring an additional 1,552 shares during the quarter. DAVENPORT & Co LLC’s holdings in ConocoPhillips were worth $5,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter valued at $26,000. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter valued at $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips in the third quarter valued at $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on COP shares. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $135.89.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE COP opened at $98.47 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market cap of $113.33 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.76 and a beta of 1.18. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a 50-day moving average price of $101.82 and a two-hundred day moving average price of $106.59.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.