Smith Group Asset Management LLC Invests $283,000 in ConocoPhillips (NYSE:COP)

Smith Group Asset Management LLC acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,855 shares of the energy producer's stock, valued at approximately $283,000.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after buying an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock valued at $2,601,639,000 after purchasing an additional 924,289 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer's stock valued at $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.3 %

Shares of COP stock traded down $0.26 during trading hours on Thursday, hitting $101.30. 654,219 shares of the company were exchanged, compared to its average volume of 5,495,757. The company has a 50 day simple moving average of $102.29 and a two-hundred day simple moving average of $106.86. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. 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 cap of $116.58 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.86 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, beating 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 business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm posted $2.16 EPS. ConocoPhillips's revenue was down 8.5% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 7.65 EPS for the current year.

Insider Activity at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the company's stock in a transaction on Friday, December 20th. The shares were bought 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. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COP shares. Scotiabank reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Truist Financial raised their price target 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. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Two 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $135.89.

ConocoPhillips Profile

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.