ConocoPhillips (NYSE:COP) Shares Acquired by Bristlecone Advisors LLC

Bristlecone Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,663 shares of the energy producer’s stock after acquiring an additional 410 shares during the quarter. Bristlecone Advisors LLC’s holdings in ConocoPhillips were worth $760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB grew its position in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares during the period. Exchange Traded Concepts LLC grew its position in ConocoPhillips by 23.0% during the third quarter. Exchange Traded Concepts LLC now owns 92,618 shares of the energy producer’s stock worth $9,751,000 after buying an additional 17,329 shares during the period. Willis Investment Counsel grew its position in ConocoPhillips by 0.5% during the third quarter. Willis Investment Counsel now owns 222,144 shares of the energy producer’s stock worth $23,387,000 after buying an additional 1,041 shares during the period. Paladin Wealth LLC acquired a new position in ConocoPhillips during the third quarter worth about $692,000. Finally, ORG Wealth Partners LLC acquired a new position in ConocoPhillips during the third quarter worth about $73,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a research report on Monday. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Finally, Susquehanna increased their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.72.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $99.39 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $114.39 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The firm’s 50 day moving average is $101.05 and its two-hundred day moving average is $106.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

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.