Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 486,307 shares of the energy producer's stock, valued at approximately $48,227,000.
A number of other large investors have also modified their holdings of COP. Cypress Capital Group increased its stake in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Orrstown Financial Services Inc. grew its holdings in ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after buying an additional 96 shares in the last quarter. Smithfield Trust Co increased its position in ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer's stock valued at $332,000 after acquiring an additional 100 shares during the period. Principle Wealth Partners LLC raised its stake in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after acquiring an additional 100 shares in the last quarter. Finally, Verus Capital Partners LLC boosted its position in ConocoPhillips by 2.0% during the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer's stock worth $541,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.
Insider Transactions at ConocoPhillips
In other news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company's stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on COP. UBS Group lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Evercore ISI reiterated an "outperform" rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Barclays cut their target price on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $133.05.
Read Our Latest Analysis on ConocoPhillips
ConocoPhillips Stock Down 1.5 %
NYSE:COP traded down $1.49 during trading hours on Thursday, hitting $96.27. 11,354,582 shares of the stock traded hands, compared to its average volume of 6,232,773. The firm has a market cap of $122.49 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.79 and a beta of 1.12. The firm has a 50 day moving average price of $99.26 and a 200 day moving average price of $103.97. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.
About ConocoPhillips
(
Free Report)
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.
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