Parsons Capital Management Inc. RI Has $4.54 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Parsons Capital Management Inc. RI decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,741 shares of the energy producer’s stock after selling 2,239 shares during the period. Parsons Capital Management Inc. RI’s holdings in ConocoPhillips were worth $4,536,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP grew its position in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares during the period. Geode Capital Management LLC grew its position in ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after buying an additional 924,289 shares during the period. Franklin Resources Inc. grew its position in ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after buying an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC grew its position in ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

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

ConocoPhillips Price Performance

Shares of NYSE COP opened at $102.19 on Monday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a 50 day simple moving average of $102.98 and a two-hundred day simple moving average of $107.06. The company has a market capitalization of $117.62 billion, a price-to-earnings ratio of 12.21, a P/E/G 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.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 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 firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts expect that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.05%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank reduced their price target 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. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Barclays increased their target price 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. Finally, Susquehanna increased their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $135.89.

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.