Global Retirement Partners LLC Acquires 981 Shares of ConocoPhillips (NYSE:COP)

Global Retirement Partners LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,580 shares of the energy producer’s stock after acquiring an additional 981 shares during the period. Global Retirement Partners LLC’s holdings in ConocoPhillips were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in COP. Bank of Jackson Hole Trust purchased a new position in ConocoPhillips during the fourth quarter valued at $165,000. New York State Common Retirement Fund grew its stake in shares of ConocoPhillips by 7.7% during the 4th quarter. New York State Common Retirement Fund now owns 2,234,124 shares of the energy producer’s stock valued at $221,558,000 after acquiring an additional 158,973 shares during the period. Callahan Advisors LLC increased its holdings in ConocoPhillips by 8.8% in the 4th quarter. Callahan Advisors LLC now owns 9,314 shares of the energy producer’s stock worth $924,000 after acquiring an additional 753 shares in the last quarter. Mcdonald Partners LLC raised its stake in ConocoPhillips by 16.2% during the 4th quarter. Mcdonald Partners LLC now owns 21,539 shares of the energy producer’s stock worth $2,136,000 after acquiring an additional 3,006 shares during the period. Finally, Hara Capital LLC lifted its holdings in ConocoPhillips by 4.9% during the fourth quarter. Hara Capital LLC now owns 4,192 shares of the energy producer’s stock valued at $416,000 after purchasing an additional 195 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 4.0 %

COP opened at $97.90 on Friday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. 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 has a 50-day moving average of $100.11 and a 200 day moving average of $105.44. The firm has a market cap of $124.57 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.78 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COP. Piper Sandler decreased their price objective 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. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Two investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.56.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.