ConocoPhillips (NYSE:COP) Shares Acquired by Spinnaker Trust

Spinnaker Trust lifted its stake in shares of ConocoPhillips (NYSE:COP) by 5.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,390 shares of the energy producer’s stock after purchasing an additional 119 shares during the period. Spinnaker Trust’s holdings in ConocoPhillips were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COP. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% during the fourth 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 during the period. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Trading Down 0.5 %

ConocoPhillips stock opened at $96.39 on Friday. The company’s fifty day simple moving average is $100.44 and its 200-day simple moving average is $105.76. The company has a quick ratio of 1.16, a current ratio of 1.29 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 stock has a market cap of $110.93 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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, sell-side analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost 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. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was 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 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.