ConocoPhillips (NYSE:COP) Position Boosted by Conning Inc.

Conning Inc. boosted its position in ConocoPhillips (NYSE:COP) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,411 shares of the energy producer’s stock after buying an additional 14,318 shares during the quarter. ConocoPhillips makes up about 1.3% of Conning Inc.’s investment portfolio, making the stock its 26th biggest holding. Conning Inc.’s holdings in ConocoPhillips were worth $36,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips during the third quarter worth $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its position in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $98.34 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a market cap of $113.18 billion, a P/E ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18. The stock has a fifty day moving average price of $101.25 and a two-hundred day moving average price of $106.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Research analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Activity at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at $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.

Analysts Set New Price Targets

A number of brokerages have issued reports on COP. Raymond James raised their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two 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. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $135.89.

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.