Evanson Asset Management LLC Invests $239,000 in ConocoPhillips (NYSE:COP)

Evanson Asset Management LLC purchased a new position in ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,413 shares of the energy producer's stock, valued at approximately $239,000.

Other large investors also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Alpha DNA Investment Management LLC raised its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock worth $1,879,000 after purchasing an additional 7,490 shares in the last quarter. Brookstone Capital Management lifted its stake in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after purchasing an additional 383 shares during the period. Prospera Financial Services Inc boosted its holdings in ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock valued at $7,488,000 after purchasing an additional 13,595 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock valued at $262,094,000 after purchasing an additional 46,621 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on COP. Piper Sandler decreased 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. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday. They issued a "buy" rating and a $125.00 target price on the stock. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Barclays raised their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of "Buy" and an average target price of $136.00.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the company's stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents 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 Trading Down 1.5 %

ConocoPhillips stock traded down $1.60 during trading hours on Tuesday, reaching $104.25. 7,142,830 shares of the company's stock traded hands, compared to its average volume of 5,972,967. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The firm's 50 day moving average is $103.67 and its 200-day moving average is $107.31. 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 firm has a market capitalization of $119.98 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for 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%. The business's revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. On average, analysts predict that ConocoPhillips will post 7.68 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.99%. 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 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.