ConocoPhillips (NYSE:COP) is Hamel Associates Inc.’s 9th Largest Position

Hamel Associates Inc. lifted its position in shares of ConocoPhillips (NYSE:COP) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,525 shares of the energy producer’s stock after purchasing an additional 5,107 shares during the period. ConocoPhillips accounts for approximately 3.0% of Hamel Associates Inc.’s portfolio, making the stock its 9th largest position. Hamel Associates Inc.’s holdings in ConocoPhillips were worth $9,275,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after purchasing an additional 924,289 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of ConocoPhillips by 10.6% during the fourth quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after purchasing an additional 1,324,771 shares during the period. Finally, Franklin Resources Inc. raised its stake in ConocoPhillips by 12.5% in the third 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 in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

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

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Buying and Selling

In related news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following 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 position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Piper Sandler lowered their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

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.