State of Alaska Department of Revenue Increases Stake in ConocoPhillips (NYSE:COP)

State of Alaska Department of Revenue raised its holdings in shares of ConocoPhillips (NYSE:COP) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 253,986 shares of the energy producer’s stock after purchasing an additional 25,761 shares during the quarter. State of Alaska Department of Revenue’s holdings in ConocoPhillips were worth $25,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter worth about $26,000. Albion Financial Group UT lifted its holdings in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter valued at approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on COP. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley started coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Wells Fargo & Company cut their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Trading Down 0.4 %

NYSE COP opened at $100.18 on Thursday. The firm has a market cap of $115.30 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The stock has a 50-day moving average of $101.54 and a 200-day moving average of $106.36. 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 quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. As a group, sell-side analysts forecast that ConocoPhillips will post 7.64 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.11%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction 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 represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.