Carnegie Investment Counsel Has $1.70 Million Holdings in ConocoPhillips (NYSE:COP)

Carnegie Investment Counsel lifted its stake in shares of ConocoPhillips (NYSE:COP) by 127.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,105 shares of the energy producer’s stock after buying an additional 9,583 shares during the quarter. Carnegie Investment Counsel’s holdings in ConocoPhillips were worth $1,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Legacy Wealth Asset Management LLC raised its holdings in shares of ConocoPhillips by 7.9% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 7,245 shares of the energy producer’s stock valued at $718,000 after purchasing an additional 530 shares during the period. Tallon Kerry Patrick acquired a new position in ConocoPhillips during the 4th quarter worth approximately $511,000. Lakewood Asset Management LLC raised its stake in ConocoPhillips by 0.4% during the 4th quarter. Lakewood Asset Management LLC now owns 29,182 shares of the energy producer’s stock worth $2,894,000 after buying an additional 128 shares during the period. Alaska Permanent Fund Corp boosted its holdings in ConocoPhillips by 946.1% in the fourth quarter. Alaska Permanent Fund Corp now owns 29,834 shares of the energy producer’s stock worth $2,959,000 after acquiring an additional 26,982 shares in the last quarter. Finally, Heritage Family Offices LLP increased its holdings in shares of ConocoPhillips by 2.6% during the fourth quarter. Heritage Family Offices LLP now owns 13,761 shares of the energy producer’s stock valued at $1,365,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

COP stock opened at $105.76 on Friday. The stock has a fifty day moving average of $103.91 and a 200-day moving average of $107.53. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.81 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.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.95%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $136.00.

About ConocoPhillips

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.