20,000 Shares in ConocoPhillips (NYSE:COP) Acquired by Viking Fund Management LLC

Viking Fund Management LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 20,000 shares of the energy producer’s stock, valued at approximately $1,983,000.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in ConocoPhillips by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 117,623 shares of the energy producer’s stock worth $13,454,000 after buying an additional 39,016 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in ConocoPhillips by 135.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,378 shares of the energy producer’s stock valued at $1,645,000 after purchasing an additional 8,270 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in ConocoPhillips by 18,028.9% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 6,889 shares of the energy producer’s stock worth $788,000 after purchasing an additional 6,851 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of ConocoPhillips by 3.1% during the second quarter. 1832 Asset Management L.P. now owns 53,008 shares of the energy producer’s stock worth $6,063,000 after buying an additional 1,576 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in shares of ConocoPhillips by 3.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 19,452 shares of the energy producer’s stock valued at $2,225,000 after purchasing an additional 580 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.5 %

ConocoPhillips stock opened at $104.25 on Wednesday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The stock has a market cap of $119.98 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.19. The company’s 50-day moving average price is $103.54 and its two-hundred day moving average price is $107.25. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 earnings per share. On average, analysts expect that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced 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. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.99%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COP. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $136.00.

Insider Buying and Selling

In related news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value 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 approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

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.