Carnegie Investment Counsel Has $1.70 Million Holdings in ConocoPhillips (NYSE:COP)

Carnegie Investment Counsel boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 127.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,105 shares of the energy producer's stock after purchasing an additional 9,583 shares during the quarter. Carnegie Investment Counsel's holdings in ConocoPhillips were worth $1,696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COP. Values First Advisors Inc. acquired a new position in ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Global Wealth Strategies & Associates grew 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 valued at $34,000 after purchasing an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

NYSE COP traded up $0.15 on Friday, hitting $105.76. 8,546,391 shares of the stock were exchanged, compared to its average volume of 6,479,072. 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 business's fifty day moving average is $103.79 and its 200 day moving average is $107.47. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a market capitalization of $121.72 billion, a PE ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 firm 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 earnings per share. The company's quarterly revenue was down 8.5% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was bought at an average price 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. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Evercore ISI reaffirmed an "outperform" rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Susquehanna lifted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a research note on Friday, November 1st. Finally, BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of "Buy" and a consensus price target of $136.00.

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.