Aspiriant LLC Increases Stake in ConocoPhillips (NYSE:COP)

Aspiriant LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 119.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,569 shares of the energy producer’s stock after acquiring an additional 3,030 shares during the quarter. Aspiriant LLC’s holdings in ConocoPhillips were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its position in ConocoPhillips by 8.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 95,815 shares of the energy producer’s stock valued at $9,502,000 after purchasing an additional 7,366 shares in the last quarter. Reliant Investment Management LLC lifted its position in shares of ConocoPhillips by 2.4% during the 4th quarter. Reliant Investment Management LLC now owns 55,121 shares of the energy producer’s stock valued at $5,466,000 after buying an additional 1,270 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of ConocoPhillips by 24.0% during the 4th quarter. Ballentine Partners LLC now owns 17,289 shares of the energy producer’s stock valued at $1,715,000 after acquiring an additional 3,344 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in ConocoPhillips by 9.2% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 6,805 shares of the energy producer’s stock worth $675,000 after acquiring an additional 573 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $201,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $104.25 on Wednesday. The stock has a market cap of $119.98 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. 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 has a 50 day moving average price of $103.67 and a 200-day moving average price of $107.31. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS 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 company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 7.68 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. 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 yield of 2.99%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COP shares. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Scotiabank cut their price objective 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. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $136.00.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was bought 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 owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

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.