ConocoPhillips (NYSE:COP) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 27.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 267,000 shares of the energy producer’s stock after acquiring an additional 57,246 shares during the period. Assetmark Inc.’s holdings in ConocoPhillips were worth $26,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC lifted its position 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 valued at $10,902,000 after acquiring an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. lifted its position in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of ConocoPhillips by 23.6% in 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 lifted its holdings in shares of ConocoPhillips by 1.9% in the third 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 in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Wells Fargo & Company reduced their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Piper Sandler reduced their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $133.47.

ConocoPhillips Trading Down 1.8 %

ConocoPhillips stock opened at $88.98 on Thursday. The company has a market capitalization of $113.21 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.79 and a beta of 1.12. The company’s fifty day moving average price is $99.82 and its two-hundred day moving average price is $104.64. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

ConocoPhillips Company 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.