Yacktman Asset Management LP Has $211 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Yacktman Asset Management LP reduced its position in shares of ConocoPhillips (NYSE:COP) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,817,864 shares of the energy producer’s stock after selling 5,045 shares during the period. ConocoPhillips comprises about 2.0% of Yacktman Asset Management LP’s portfolio, making the stock its 20th largest holding. Yacktman Asset Management LP’s holdings in ConocoPhillips were worth $210,999,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COP. Alphinity Investment Management Pty Ltd bought a new position in shares of ConocoPhillips in the 3rd quarter worth $310,102,000. Capital Wealth Planning LLC raised its holdings in shares of ConocoPhillips by 45,426.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after acquiring an additional 1,425,946 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after acquiring an additional 1,152,907 shares in the last quarter. International Assets Investment Management LLC boosted its stake in ConocoPhillips by 13,905.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after purchasing an additional 1,106,305 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $99,676,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. UBS Group lifted their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler upped their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Susquehanna raised their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday. Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 in the last three months. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

COP traded up $0.43 during trading hours on Friday, hitting $130.54. The stock had a trading volume of 3,019,432 shares, compared to its average volume of 5,325,978. The stock has a market cap of $153.57 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $122.10 and its 200 day simple moving average is $117.58.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter last year, the company earned $2.71 earnings per share. Equities analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 25.61%.

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.