MassMutual Private Wealth & Trust FSB Grows Stock Holdings in ConocoPhillips (NYSE:COP)

MassMutual Private Wealth & Trust FSB grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,982 shares of the energy producer's stock after purchasing an additional 4,225 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in ConocoPhillips were worth $5,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COP. Cypress Capital Group grew 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 worth $1,978,000 after acquiring an additional 96 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in ConocoPhillips by 4.8% in the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer's stock valued at $224,000 after purchasing an additional 97 shares during the period. Smithfield Trust Co grew its stake in ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer's stock worth $332,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC increased its holdings in ConocoPhillips by 1.0% during the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer's stock worth $1,053,000 after purchasing an additional 102 shares during the period. Finally, Asset Dedication LLC raised its position in ConocoPhillips by 2.5% in the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer's stock valued at $442,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction on 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 acquisition, the director now owns 21,500 shares of the company's stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker bought 10,400 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost 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. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised ConocoPhillips from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Piper Sandler lowered their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday. They set a "buy" rating and a $125.00 target price for the company. Finally, Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $136.00.

ConocoPhillips Stock Performance

NYSE:COP traded down $1.60 during trading hours on Tuesday, reaching $104.25. 7,142,830 shares of the company's stock were exchanged, compared to its average volume of 5,972,967. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. 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 firm has a market capitalization of $119.98 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.19. The company has a 50-day moving average of $103.67 and a 200 day moving average of $107.31.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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 business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business's quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.68 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's payout ratio is presently 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.