Nisa Investment Advisors LLC Has $47.70 Million Stock Position in ConocoPhillips (NYSE:COP)

Nisa Investment Advisors LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,991 shares of the energy producer’s stock after purchasing an additional 42,959 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ConocoPhillips were worth $47,700,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in ConocoPhillips in the third quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter worth $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips in the 3rd quarter valued at about $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.5 %

Shares of COP opened at $104.25 on Wednesday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $103.67 and a two-hundred day simple moving average of $107.31. The firm has a market cap of $119.98 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The company 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%. During the same quarter last year, the firm earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COP. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. BMO Capital Markets boosted their target price 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. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $136.00.

Insider Activity at ConocoPhillips

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

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.