ConocoPhillips (NYSE:COP) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 17.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,414 shares of the energy producer’s stock after purchasing an additional 3,319 shares during the quarter. Blue Trust Inc.’s holdings in ConocoPhillips were worth $2,360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% in the fourth 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. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth $31,000. Finally, Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Raymond James lifted their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Trading Up 0.9 %

Shares of COP opened at $102.73 on Tuesday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The stock has a 50-day moving average price of $102.98 and a 200 day moving average price of $107.06. 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 $118.23 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 EPS. Sell-side analysts forecast that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.