Invesco LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Invesco LLC lifted its stake in ConocoPhillips (NYSE:COP) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,623 shares of the energy producer’s stock after purchasing an additional 365 shares during the period. Invesco LLC’s holdings in ConocoPhillips were worth $855,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Cypress Capital Group boosted its stake in shares of ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the last quarter. Orrstown Financial Services Inc. raised its holdings in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after buying an additional 96 shares during the period. Aprio Wealth Management LLC boosted its position in ConocoPhillips by 4.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after purchasing an additional 97 shares during the period. Smithfield Trust Co raised its holdings in shares of ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the period. Finally, Ignite Planners LLC lifted its position in shares of ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.46 during trading hours on Wednesday, reaching $100.92. 341,235 shares of the company were exchanged, compared to its average volume of 5,556,596. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a market cap of $116.15 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.86 and a beta of 1.19. 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 has a 50-day moving average of $102.53 and a 200 day moving average of $106.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, research analysts anticipate that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, 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 through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was 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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COP shares. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Piper Sandler reduced their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Susquehanna increased their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $135.89.

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.