ConocoPhillips (NYSE:COP) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC grew its position in ConocoPhillips (NYSE:COP) by 120.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 649 shares of the energy producer’s stock after buying an additional 354 shares during the quarter. Truvestments Capital LLC’s holdings in ConocoPhillips were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Geode Capital Management LLC grew its holdings in shares of ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after purchasing an additional 924,289 shares in the last quarter. Fisher Asset Management LLC increased its stake in ConocoPhillips by 10.6% during the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after buying an additional 1,324,771 shares during the period. Finally, Franklin Resources Inc. increased its stake in ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after buying an additional 1,506,599 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $96.27 on Friday. The company’s 50 day simple moving average is $99.26 and its 200-day simple moving average is $103.97. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a market cap of $122.49 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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%. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $133.05.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated 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 owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % 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.

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.