ConocoPhillips (NYSE:COP) Shares Purchased by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. raised its position in ConocoPhillips (NYSE:COP) by 8.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,720 shares of the energy producer’s stock after purchasing an additional 364 shares during the period. Monterey Private Wealth Inc.’s holdings in ConocoPhillips were worth $468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter worth approximately $35,000. Finally, Global Wealth Strategies & Associates boosted its stake in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director R A. Walker purchased 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 purchase, 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE:COP opened at $105.76 on Tuesday. The firm has a 50 day simple moving average of $103.67 and a 200-day simple moving average of $107.31. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $121.72 billion, a PE ratio of 12.58, a P/E/G ratio of 0.88 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analysts Set New Price Targets

COP has been the topic of several recent research reports. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Truist Financial lifted 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. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Finally, BMO Capital Markets boosted their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $136.00.

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.