ConocoPhillips (NYSE:COP) Position Boosted by Keystone Financial Group

Keystone Financial Group raised its position in shares of ConocoPhillips (NYSE:COP) by 33.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,159 shares of the energy producer’s stock after buying an additional 787 shares during the quarter. Keystone Financial Group’s holdings in ConocoPhillips were worth $313,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COP. Morse Asset Management Inc bought a new stake in ConocoPhillips during the third quarter valued at $805,000. Anchor Investment Management LLC boosted its holdings in shares of ConocoPhillips by 5.5% in the 3rd quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock valued at $1,192,000 after buying an additional 589 shares during the period. Fulcrum Equity Management grew its position in shares of ConocoPhillips by 24.1% during the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock valued at $625,000 after buying an additional 1,155 shares during the last quarter. World Investment Advisors LLC raised its stake in ConocoPhillips by 746.7% during the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after acquiring an additional 38,740 shares during the period. Finally, Arvest Bank Trust Division bought a new position in ConocoPhillips in the third quarter worth about $11,549,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.32 on Tuesday. The company has a market capitalization of $109.12 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $132.61. 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 stock’s fifty day simple moving average is $96.24 and its 200-day simple moving average is $101.91.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on COP shares. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Scotiabank dropped their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday. Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Truist Financial lifted their price objective 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. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.74.

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.