ConocoPhillips (NYSE:COP) Shares Bought by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp increased its stake in ConocoPhillips (NYSE:COP) by 946.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,834 shares of the energy producer’s stock after purchasing an additional 26,982 shares during the period. Alaska Permanent Fund Corp’s holdings in ConocoPhillips were worth $2,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Heritage Family Offices LLP lifted its position in ConocoPhillips by 2.6% in the 4th quarter. Heritage Family Offices LLP now owns 13,761 shares of the energy producer’s stock valued at $1,365,000 after purchasing an additional 347 shares during the last quarter. Winch Advisory Services LLC raised its holdings in shares of ConocoPhillips by 16.4% during the fourth quarter. Winch Advisory Services LLC now owns 1,412 shares of the energy producer’s stock valued at $140,000 after buying an additional 199 shares during the last quarter. Essex Savings Bank boosted its position in shares of ConocoPhillips by 9.4% during the fourth quarter. Essex Savings Bank now owns 9,411 shares of the energy producer’s stock worth $933,000 after buying an additional 812 shares during the period. Pinnacle Bancorp Inc. boosted its position in shares of ConocoPhillips by 9.4% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,713 shares of the energy producer’s stock worth $170,000 after buying an additional 147 shares during the period. Finally, Armstrong Advisory Group Inc. grew its holdings in ConocoPhillips by 40.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 3,245 shares of the energy producer’s stock worth $322,000 after buying an additional 927 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $105.45 on Thursday. The stock has a market cap of $121.36 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $104.21 and a 200-day simple moving average of $107.56.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.16 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.96%. 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 currently 37.10%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This 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.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reduced their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock 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 report on Monday. Finally, Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $136.65.

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.