ConocoPhillips (NYSE:COP) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc raised its stake in shares of ConocoPhillips (NYSE:COP) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,485 shares of the energy producer’s stock after buying an additional 453 shares during the period. Pinnacle Financial Partners Inc’s holdings in ConocoPhillips were worth $1,663,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Cowa LLC increased its stake in ConocoPhillips by 11.6% during the 4th quarter. Cowa LLC now owns 22,317 shares of the energy producer’s stock valued at $2,095,000 after buying an additional 2,322 shares during the period. Sigma Planning Corp increased its stake in ConocoPhillips by 21.7% during the 4th quarter. Sigma Planning Corp now owns 19,916 shares of the energy producer’s stock valued at $1,975,000 after buying an additional 3,556 shares during the period. Callan Capital LLC acquired a new position in ConocoPhillips during the 4th quarter valued at about $325,000. Oxbow Advisors LLC increased its stake in ConocoPhillips by 145.5% during the 4th quarter. Oxbow Advisors LLC now owns 82,839 shares of the energy producer’s stock valued at $8,215,000 after buying an additional 49,098 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of ConocoPhillips by 32.5% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 3,059 shares of the energy producer’s stock worth $303,000 after purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction 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 purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was acquired 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 of the company’s stock, valued at approximately $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. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COP shares. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Truist Financial lifted 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. UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $133.47.

ConocoPhillips Stock Performance

COP stock opened at $97.90 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market cap of $124.57 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.79 and a beta of 1.18. The firm has a 50 day simple moving average of $100.11 and a 200 day simple moving average of $105.43. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared 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 dividend yield of 3.19%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

ConocoPhillips Company 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.