ConocoPhillips (NYSE:COP) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 42,573 shares of the energy producer’s stock after purchasing an additional 177 shares during the period. Griffin Asset Management Inc.’s holdings in ConocoPhillips were worth $4,222,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. AXA S.A. grew 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 purchasing an additional 2,116 shares in the last quarter. Ascent Group LLC lifted its stake in ConocoPhillips by 7.5% during the second quarter. Ascent Group LLC now owns 19,623 shares of the energy producer’s stock worth $2,244,000 after purchasing an additional 1,367 shares during the last quarter. Creative Planning boosted its holdings in ConocoPhillips by 7.3% in the second quarter. Creative Planning now owns 244,225 shares of the energy producer’s stock valued at $27,934,000 after purchasing an additional 16,612 shares in the last quarter. Magnolia Capital Advisors LLC increased its stake in ConocoPhillips by 193.0% in the second quarter. Magnolia Capital Advisors LLC now owns 16,626 shares of the energy producer’s stock valued at $1,902,000 after purchasing an additional 10,951 shares during the last quarter. Finally, Silver Lake Advisory LLC purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $337,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on COP. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. BMO Capital Markets increased their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $135.89.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

COP opened at $102.73 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market cap of $118.23 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.86 and a beta of 1.19. The business’s fifty day moving average is $102.98 and its two-hundred day moving average is $107.06. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

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

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.04%. ConocoPhillips’s payout ratio is currently 37.10%.

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.