ConocoPhillips (NYSE:COP) Stock Holdings Boosted by Yacktman Asset Management LP

Yacktman Asset Management LP grew its position in shares of ConocoPhillips (NYSE:COP) by 11.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,883,942 shares of the energy producer’s stock after purchasing an additional 199,710 shares during the quarter. ConocoPhillips accounts for 2.2% of Yacktman Asset Management LP’s portfolio, making the stock its 18th largest position. Yacktman Asset Management LP owned about 0.16% of ConocoPhillips worth $186,831,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Cypress Capital Group grew its stake in shares of 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 purchasing an additional 96 shares during the last quarter. Orrstown Financial Services Inc. boosted its position in ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after buying an additional 96 shares during the last quarter. Smithfield Trust Co increased its stake in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the period. Principle Wealth Partners LLC raised its position in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares during the last quarter. Finally, Asset Dedication LLC lifted its stake in shares of ConocoPhillips by 2.5% during the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.0 %

COP opened at $99.39 on Tuesday. The stock has a market capitalization of $114.39 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm’s fifty day simple moving average is $101.05 and its 200 day simple moving average is $106.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insider Activity

In related news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Barclays cut their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $133.72.

ConocoPhillips Company 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.