Mcintyre Freedman & Flynn Investment Advisers Inc. Invests $2.62 Million in ConocoPhillips (NYSE:COP)

Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,435 shares of the energy producer’s stock, valued at approximately $2,622,000. ConocoPhillips accounts for approximately 2.0% of Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings, making the stock its 19th biggest holding.

Other large investors have also bought and sold shares of the company. Tidal Investments LLC grew its holdings in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares during the period. Leavell Investment Management Inc. lifted its stake in shares of ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after buying an additional 7,174 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares in the last quarter. Prospera Financial Services Inc lifted its stake in shares of ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after buying an additional 46,621 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $92.60 on Tuesday. The firm has a market cap of $117.82 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.79 and a beta of 1.12. 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 has a 52 week low of $86.81 and a 52 week high of $135.18. The firm’s 50-day simple moving average is $99.44 and its two-hundred day simple moving average is $104.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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%. As a group, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.37%. ConocoPhillips’s payout ratio is 40.05%.

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.