Amalgamated Bank Raises Stock Position in ConocoPhillips (NYSE:COP)

Amalgamated Bank raised its position in ConocoPhillips (NYSE:COP) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 247,705 shares of the energy producer’s stock after buying an additional 17,771 shares during the period. Amalgamated Bank’s holdings in ConocoPhillips were worth $24,565,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates grew its holdings in ConocoPhillips by 80.5% during 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 in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on COP shares. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s 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.

Insider Activity at ConocoPhillips

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

ConocoPhillips Stock Performance

NYSE:COP opened at $98.82 on Tuesday. The stock has a market capitalization of $125.73 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a 50 day moving average of $100.09 and a 200-day moving average of $105.36. 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 announced 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 return on equity of 17.26% and a net margin of 16.23%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.16%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.