Louisbourg Investments Inc. Acquires 6,530 Shares of ConocoPhillips (NYSE:COP)

Louisbourg Investments Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,972 shares of the energy producer’s stock after purchasing an additional 6,530 shares during the quarter. ConocoPhillips accounts for approximately 1.3% of Louisbourg Investments Inc.’s portfolio, making the stock its 22nd largest position. Louisbourg Investments Inc.’s holdings in ConocoPhillips were worth $5,551,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $26,000. Albion Financial Group UT lifted its holdings in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the third quarter worth $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter worth $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips in the third quarter valued at $35,000. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly 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. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho upgraded shares of 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 report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $133.72.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $101.72 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The company has a market cap of $117.08 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a 50-day moving average price of $100.83 and a 200-day moving average price of $105.97.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities analysts anticipate that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.