ConocoPhillips (NYSE:COP) Shares Bought by Councilmark Asset Management LLC

Councilmark Asset Management LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,639 shares of the energy producer’s stock after acquiring an additional 106 shares during the period. ConocoPhillips makes up 1.3% of Councilmark Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Councilmark Asset Management LLC’s holdings in ConocoPhillips were worth $1,948,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. West Tower Group LLC grew its holdings in ConocoPhillips by 61.5% during the 4th quarter. West Tower Group LLC now owns 4,200 shares of the energy producer’s stock valued at $417,000 after purchasing an additional 1,600 shares in the last quarter. North Forty Two & Co. acquired a new stake in ConocoPhillips during the 4th quarter valued at $401,000. VSM Wealth Advisory LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $97,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in ConocoPhillips by 10.1% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 85,462 shares of the energy producer’s stock valued at $8,466,000 after acquiring an additional 7,865 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in ConocoPhillips by 3.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 69,849 shares of the energy producer’s stock valued at $6,927,000 after acquiring an additional 2,268 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. 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 research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Truist Financial raised their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Up 1.2 %

ConocoPhillips stock opened at $100.51 on Wednesday. The stock has a market cap of $127.88 billion, a price-to-earnings ratio of 12.90, a PEG 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. The company’s 50-day moving average price is $99.19 and its two-hundred day moving average price is $103.56. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. On average, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.10%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

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.