MassMutual Private Wealth & Trust FSB Acquires 4,225 Shares of ConocoPhillips (NYSE:COP)

MassMutual Private Wealth & Trust FSB raised its holdings in ConocoPhillips (NYSE:COP) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,982 shares of the energy producer’s stock after buying an additional 4,225 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in ConocoPhillips were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in COP. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth about $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $31,000. Global Wealth Strategies & Associates lifted its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of research firms recently commented on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Susquehanna upped their price objective 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. 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 note on Monday, January 13th. Finally, BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two 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 stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $136.00.

ConocoPhillips Stock Up 0.1 %

ConocoPhillips stock opened at $105.76 on Tuesday. The firm has a 50 day simple moving average of $103.79 and a 200 day simple moving average of $107.37. 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 has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during 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 period in the previous year, the business earned $2.16 earnings per share. On average, analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. 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 2.95%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.