158,704 Shares in ConocoPhillips (NYSE:COP) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 158,704 shares of the energy producer’s stock, valued at approximately $15,739,000.

Several other large investors have also recently added to or reduced their stakes in COP. State Street Corp increased its stake in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP increased its position in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.6 %

Shares of NYSE:COP opened at $98.34 on Friday. The stock has a market cap of $113.18 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.76 and a beta of 1.18. The firm has a fifty day moving average price of $101.25 and a 200 day moving average price of $106.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. Sell-side analysts predict that ConocoPhillips will post 7.64 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Ratings Changes

A number of brokerages have commented on COP. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Truist Financial increased their price objective 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. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $135.89.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips 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 purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.