Signet Investment Advisory Group Inc. Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Signet Investment Advisory Group Inc. lifted its position in shares of ConocoPhillips (NYSE:COP) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,275 shares of the energy producer’s stock after acquiring an additional 475 shares during the period. Signet Investment Advisory Group Inc.’s holdings in ConocoPhillips were worth $2,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 last quarter. Geode Capital Management LLC boosted its position in shares of 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 last quarter. Franklin Resources Inc. increased its holdings in ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after buying an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on COP shares. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Piper Sandler dropped 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. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.72.

ConocoPhillips Trading Up 2.3 %

ConocoPhillips stock opened at $101.72 on Wednesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm has a market capitalization of $117.08 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 1.18. The firm has a 50 day moving average of $100.91 and a 200 day moving average of $106.03. 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 (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid 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 yield of 3.07%. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the business’s 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 acquisition, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.