1ST Source Bank Boosts Stock Position in ConocoPhillips (NYSE:COP)

1ST Source Bank lifted its position in shares of ConocoPhillips (NYSE:COP) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,348 shares of the energy producer’s stock after purchasing an additional 119 shares during the period. 1ST Source Bank’s holdings in ConocoPhillips were worth $4,497,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $410,000. Tower Bridge Advisors boosted its position in ConocoPhillips by 24.7% during the 3rd quarter. Tower Bridge Advisors now owns 7,479 shares of the energy producer’s stock valued at $787,000 after acquiring an additional 1,481 shares in the last quarter. Concord Asset Management LLC VA boosted its position in ConocoPhillips by 11.7% during the 3rd quarter. Concord Asset Management LLC VA now owns 19,091 shares of the energy producer’s stock valued at $2,010,000 after acquiring an additional 1,998 shares in the last quarter. Claro Advisors LLC boosted its position in ConocoPhillips by 23.5% during the 3rd quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock valued at $444,000 after acquiring an additional 803 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in ConocoPhillips by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,210,124 shares of the energy producer’s stock valued at $127,402,000 after acquiring an additional 3,877 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $99.10 on Monday. The firm has a market cap of $126.09 billion, a P/E ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $99.22 and a 200 day moving average of $103.75. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on COP shares. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. UBS Group dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.05.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.