Fri Sep 20 12:38:59 UTC 2024: ## Edgestream Partners Boosts ConocoPhillips Holdings by 444.8%
**New York, NY – September 20th, 2024** – Edgestream Partners L.P. significantly increased its stake in ConocoPhillips (NYSE:COP) during the second quarter, according to a recent SEC filing. The fund now owns 13,484 shares of the energy giant, representing a 444.8% jump from the previous quarter. This investment is valued at $1,542,000.
Several other hedge funds have also adjusted their positions in ConocoPhillips recently. Sachetta LLC and Cooksen Wealth LLC both purchased new positions in the fourth quarter, while Cape Investment Advisory Inc. and Stephens Consulting LLC boosted their holdings during the same period.
ConocoPhillips has garnered positive attention from research analysts. Susquehanna, Wolfe Research, Argus, and UBS Group have all issued reports on the company, with varying price targets and ratings. Overall, the consensus rating for COP is a “Moderate Buy” with an average price target of $142.29.
The company reported strong earnings in the second quarter, exceeding analyst expectations with $1.98 EPS. ConocoPhillips also announced a quarterly dividend of $0.58 per share, representing a 2.10% dividend yield.
Despite recent insider selling, ConocoPhillips remains a popular investment among institutional investors. Currently, 82.36% of the stock is owned by hedge funds and other institutions.
**About ConocoPhillips:** ConocoPhillips is a global energy company focused on exploring, producing, transporting, and marketing crude oil, natural gas, and related products. The company operates in various regions worldwide, including North America, Europe, Asia, and Australia.
**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence before making any investment decisions.
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