ConocoPhillips (NYSE:COP) Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,818 shares of the energy producer’s stock after purchasing an additional 463 shares during the quarter. Salem Investment Counselors Inc.’s holdings in ConocoPhillips were worth $775,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COP. Excalibur Management Corp increased its stake in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after buying an additional 96 shares during the period. Cypress Capital Group increased its position in shares of ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the last quarter. Aprio Wealth Management LLC increased its position in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares during the last quarter. Greenwich Wealth Management LLC raised its holdings in shares of ConocoPhillips by 4.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock valued at $295,000 after purchasing an additional 99 shares in the last quarter. Finally, MRP Capital Investments LLC lifted its position in shares of ConocoPhillips by 4.3% during the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock worth $278,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.3 %

NYSE:COP opened at $104.29 on Tuesday. ConocoPhillips has a 12-month low of $94.23 and a 12-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 stock’s 50 day simple moving average is $104.30 and its 200-day simple moving average is $107.63. The firm has a market cap of $120.03 billion, a P/E ratio of 12.40, a PEG ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business 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%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. Equities analysts anticipate that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COP shares. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Mizuho raised shares of 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 report on Monday, December 16th. Scotiabank reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Piper Sandler dropped their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $136.76.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at approximately $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. Company insiders own 0.34% of the company’s stock.

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.