New York Life Investment Management LLC Acquires 18,617 Shares of ConocoPhillips (NYSE:COP)

New York Life Investment Management LLC grew its holdings in ConocoPhillips (NYSE:COP) by 12.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 173,315 shares of the energy producer’s stock after acquiring an additional 18,617 shares during the period. New York Life Investment Management LLC’s holdings in ConocoPhillips were worth $17,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. 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 research report on Thursday, December 5th. Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Price Performance

COP opened at $96.06 on Thursday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The business has a fifty day moving average of $100.07 and a 200 day moving average of $105.21. The stock has a market cap of $122.23 billion, a P/E ratio of 12.33, a PEG ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, 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. 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.