ConocoPhillips (NYSE:COP) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its stake in shares of ConocoPhillips (NYSE:COP) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,485 shares of the energy producer’s stock after purchasing an additional 453 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in ConocoPhillips were worth $1,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its stake 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 worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after purchasing an additional 924,289 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of ConocoPhillips by 59.7% during 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 purchasing an additional 4,656,040 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research report on Thursday, January 30th. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % 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 insiders.

ConocoPhillips Stock Down 4.0 %

NYSE:COP opened at $97.90 on Monday. 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 $105.43. The firm has a market capitalization of $124.57 billion, a PE ratio of 12.57, a price-to-earnings-growth 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.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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%. Analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.