ConocoPhillips (NYSE:COP) Stock Position Lifted by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. grew its position in ConocoPhillips (NYSE:COP) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,855 shares of the energy producer’s stock after buying an additional 581 shares during the period. Koshinski Asset Management Inc.’s holdings in ConocoPhillips were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board grew its position in shares of ConocoPhillips by 49.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 117,623 shares of the energy producer’s stock valued at $13,454,000 after buying an additional 39,016 shares during the last quarter. AE Wealth Management LLC grew its holdings 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 valued at $3,699,000 after purchasing an additional 1,995 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of ConocoPhillips by 135.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,378 shares of the energy producer’s stock worth $1,645,000 after purchasing an additional 8,270 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of ConocoPhillips by 18,028.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 6,889 shares of the energy producer’s stock worth $788,000 after purchasing an additional 6,851 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in ConocoPhillips by 3.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 53,008 shares of the energy producer’s stock valued at $6,063,000 after purchasing an additional 1,576 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Piper Sandler dropped their price target 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. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $136.00.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were 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 approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $105.76 on Tuesday. 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 company has a market capitalization of $121.72 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The stock has a fifty day moving average of $103.79 and a 200-day moving average of $107.37. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.16 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

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.