ConocoPhillips (NYSE:COP) Shares Purchased by CX Institutional

CX Institutional lifted its stake in shares of ConocoPhillips (NYSE:COP) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,992 shares of the energy producer’s stock after buying an additional 10,445 shares during the quarter. CX Institutional’s holdings in ConocoPhillips were worth $6,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $33,128,000. AlTi Global Inc. raised its position in ConocoPhillips by 2.3% in the 2nd quarter. AlTi Global Inc. now owns 7,132 shares of the energy producer’s stock valued at $816,000 after purchasing an additional 162 shares during the last quarter. AXA S.A. boosted its stake in shares of ConocoPhillips by 7.1% during the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after buying an additional 2,116 shares during the period. AQR Capital Management LLC grew its stake in shares of ConocoPhillips by 25.2% in the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock valued at $70,363,000 after purchasing an additional 123,834 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $60,050,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.0 %

Shares of ConocoPhillips stock opened at $103.99 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $119.69 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The business has a 50 day moving average price of $103.36 and a 200 day moving average price of $107.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts anticipate that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COP shares. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Raymond James boosted their target price on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $135.89.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average cost 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 in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.