22,677 Shares in ConocoPhillips (NYSE:COP) Purchased by SVB Wealth LLC

SVB Wealth LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,677 shares of the energy producer’s stock, valued at approximately $2,249,000.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted 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 valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP raised its stake in ConocoPhillips by 20.2% during 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 buying an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Two equities research 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 MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Trading Up 1.8 %

Shares of NYSE:COP opened at $99.12 on Friday. The stock’s 50-day simple moving average is $100.19 and its two-hundred day simple moving average is $105.06. The stock has a market capitalization of $126.12 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. Analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

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

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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.