24,178 Shares in ConocoPhillips (NYSE:COP) Bought by True North Advisors LLC

True North Advisors LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 24,178 shares of the energy producer’s stock, valued at approximately $2,398,000.

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

Insider Activity at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was 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.

ConocoPhillips Trading Down 1.2 %

Shares of COP stock opened at $103.02 on Thursday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. 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 stock’s fifty day moving average is $103.54 and its two-hundred day moving average is $107.25. The firm has a market capitalization of $118.57 billion, a P/E ratio of 12.25, a PEG ratio of 0.87 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Research analysts expect that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.03%. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Ratings Changes

A number of research firms have weighed in on COP. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Truist Financial raised their price objective 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. Scotiabank decreased 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 note on Thursday, October 10th. Finally, Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $136.00.

ConocoPhillips 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.