ConocoPhillips (NYSE:COP) Shares Purchased by Linscomb Wealth Inc.

Linscomb Wealth Inc. raised its position in ConocoPhillips (NYSE:COP) by 89.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,164 shares of the energy producer’s stock after acquiring an additional 3,390 shares during the quarter. Linscomb Wealth Inc.’s holdings in ConocoPhillips were worth $710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its stake in shares of ConocoPhillips by 8.7% during the fourth quarter. QRG Capital Management Inc. now owns 211,912 shares of the energy producer’s stock worth $21,015,000 after purchasing an additional 16,888 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in ConocoPhillips by 11,933.6% during the 4th quarter. Proficio Capital Partners LLC now owns 1,461,117 shares of the energy producer’s stock worth $1,461,000 after buying an additional 1,448,975 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of ConocoPhillips by 10.6% during the 4th quarter. Gulf International Bank UK Ltd now owns 102,232 shares of the energy producer’s stock worth $10,138,000 after acquiring an additional 9,804 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of ConocoPhillips by 12.0% in the 4th quarter. New York Life Investment Management LLC now owns 173,315 shares of the energy producer’s stock valued at $17,188,000 after acquiring an additional 18,617 shares during the last quarter. Finally, Nwam LLC raised its position in shares of ConocoPhillips by 35.7% during the 4th quarter. Nwam LLC now owns 6,223 shares of the energy producer’s stock worth $617,000 after acquiring an additional 1,636 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was 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 corporate insiders.

ConocoPhillips Stock Up 1.8 %

COP opened at $99.12 on Friday. The business has a 50 day simple moving average of $100.19 and a 200-day simple moving average of $105.08. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a market capitalization of $126.12 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.15%. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Finally, Barclays cut their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.47.

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.