Tallon Kerry Patrick Buys Shares of 5,108 ConocoPhillips (NYSE:COP)

Tallon Kerry Patrick purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,108 shares of the energy producer's stock, valued at approximately $511,000.

A number of other hedge funds have also made changes to their positions in COP. State Street Corp boosted its holdings in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP boosted its stake in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC grew its holdings 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 valued at $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock worth $482,996,000 after buying an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after buying an additional 3,541,504 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

NYSE:COP traded up $0.15 during mid-day trading on Friday, reaching $105.76. 8,546,391 shares of the company were exchanged, compared to its average volume of 5,865,516. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a market cap of $121.72 billion, a PE ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $103.91 and a 200 day moving average of $107.53.

ConocoPhillips (NYSE:COP - Get Free Report) last posted 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. The firm had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips's revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. On average, research analysts anticipate that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips's payout ratio is currently 37.10%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COP. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating on the stock in a research note on Tuesday. Truist Financial raised their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday. Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Finally, BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $136.00.

Insider Activity

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company's stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director R A. Walker acquired 10,400 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price 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 of the company's stock, valued at $3,716,400. The trade was a 37.68 % 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.