Mutual Advisors LLC Has $1.62 Million Position in ConocoPhillips (NYSE:COP)

Mutual Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,381 shares of the energy producer’s stock after buying an additional 1,642 shares during the period. Mutual Advisors LLC’s holdings in ConocoPhillips were worth $1,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. AXA S.A. increased its stake in shares of ConocoPhillips by 7.1% during the 2nd quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after purchasing an additional 2,116 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of ConocoPhillips by 25.2% during the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock worth $70,363,000 after purchasing an additional 123,834 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of ConocoPhillips by 10.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 10,470 shares of the energy producer’s stock worth $1,198,000 after purchasing an additional 1,009 shares during the last quarter. MBB Public Markets I LLC increased its stake in shares of ConocoPhillips by 3,137.3% during the 2nd quarter. MBB Public Markets I LLC now owns 83,458 shares of the energy producer’s stock worth $9,546,000 after purchasing an additional 80,880 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of ConocoPhillips by 13.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,442,893 shares of the energy producer’s stock worth $279,416,000 after purchasing an additional 294,778 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $135.89.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $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 through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now 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. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $101.88 on Friday. The firm has a 50 day moving average of $103.19 and a 200-day moving average of $107.20. The stock has a market capitalization of $117.26 billion, a PE ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued 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 net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 EPS. On average, equities research analysts predict that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced 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 of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips’s payout ratio is presently 37.10%.

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.