18,696 Shares in ConocoPhillips (NYSE:COP) Bought by Secure Asset Management LLC

Secure Asset Management LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel reports. The fund purchased 18,696 shares of the energy producer’s stock, valued at approximately $1,854,000.

Several other institutional investors have also recently made changes to their positions in COP. Cypress Capital Group raised its stake in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after buying an additional 96 shares during the period. Aprio Wealth Management LLC raised its position in shares of ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after purchasing an additional 97 shares during the period. Smithfield Trust Co lifted its holdings in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC grew its position in ConocoPhillips by 1.0% in the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after purchasing an additional 102 shares during the period. Finally, Asset Dedication LLC increased its stake in ConocoPhillips by 2.5% during the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.0 %

ConocoPhillips stock opened at $104.07 on Friday. The firm has a 50 day moving average price of $103.36 and a 200-day moving average price of $107.22. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market capitalization of $119.77 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for 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 for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, equities analysts predict that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.00%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insiders Place Their Bets

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 price of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arjun N. Murti bought 2,500 shares of the 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 purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Raymond James increased their price objective on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two equities research 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, the company presently has a consensus rating of “Buy” and an average price target of $135.89.

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.