Trueblood Wealth Management LLC Has $846,000 Holdings in ConocoPhillips (NYSE:COP)

Trueblood Wealth Management LLC boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 237.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,533 shares of the energy producer's stock after acquiring an additional 6,003 shares during the quarter. Trueblood Wealth Management LLC's holdings in ConocoPhillips were worth $846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. grew its position in ConocoPhillips by 25.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 37,493 shares of the energy producer's stock worth $4,289,000 after buying an additional 7,545 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of ConocoPhillips by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 117,623 shares of the energy producer's stock worth $13,454,000 after acquiring an additional 39,016 shares during the last quarter. AE Wealth Management LLC raised its position in shares of ConocoPhillips by 6.6% during the second quarter. AE Wealth Management LLC now owns 32,342 shares of the energy producer's stock worth $3,699,000 after purchasing an additional 1,995 shares during the period. Sei Investments Co. lifted its holdings in shares of ConocoPhillips by 6.6% during the second quarter. Sei Investments Co. now owns 586,391 shares of the energy producer's stock valued at $67,073,000 after purchasing an additional 36,545 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of ConocoPhillips by 135.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,378 shares of the energy producer's stock valued at $1,645,000 after purchasing an additional 8,270 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial upped their price objective 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. Piper Sandler cut their target price 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. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Mizuho raised ConocoPhillips from a "neutral" rating to an "outperform" rating and upped their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $136.00.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE COP traded up $0.15 during mid-day trading on Monday, reaching $105.76. 8,546,391 shares of the company traded hands, compared to its average volume of 6,479,072. The company's fifty day moving average is $103.79 and its two-hundred day moving average is $107.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $121.72 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company posted $2.16 earnings per share. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

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

Insiders Place Their Bets

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired 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 owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, 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. Company 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.