ConocoPhillips (NYSE:COP) Shares Purchased by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC boosted its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 7.9% in the fourth quarter, HoldingsChannel reports. The firm owned 24,490 shares of the energy producer’s stock after buying an additional 1,793 shares during the period. Capital Asset Advisory Services LLC’s holdings in ConocoPhillips were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Cypress Capital Group grew its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the period. Aprio Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares in the last quarter. Smithfield Trust Co boosted its position in ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC boosted its position in ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after purchasing an additional 102 shares in the last quarter. Finally, Asset Dedication LLC increased its position in shares of ConocoPhillips by 2.5% in the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after buying an additional 102 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.0 %

ConocoPhillips stock opened at $101.88 on Monday. The stock’s fifty day moving average is $102.98 and its two-hundred day moving average is $107.10. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market cap of $117.26 billion, a PE ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, sell-side analysts expect that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on COP shares. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $135.89.

Read Our Latest Research Report on ConocoPhillips

About ConocoPhillips

(Free Report)

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.

See Also

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPFree Report).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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