R A. Walker Purchases 10,400 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ConocoPhillips Stock Down 0.7 %

Shares of ConocoPhillips stock opened at $95.18 on Friday. ConocoPhillips has a 1 year low of $95.10 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market cap of $109.54 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.83 and a beta of 1.18. The firm’s 50-day moving average is $106.57 and its two-hundred day moving average is $109.22.

ConocoPhillips (NYSE:COP) last issued 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. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.16 earnings per share. As a group, research analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed 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 is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP lifted its position in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC boosted its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Piper Sandler lowered 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. Truist Financial cut their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. UBS Group decreased their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $136.71.

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.