Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in ConocoPhillips (NYSE:COP)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ConocoPhillips (NYSE:COP) by 42.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 788,988 shares of the energy producer’s stock after acquiring an additional 234,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of ConocoPhillips worth $78,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT grew its holdings in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $35,000. Finally, Marshall Investment Management LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on COP shares. Evercore ISI reissued an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. 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. 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 research report on Monday, December 16th. Two 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Trading Up 2.4 %

NYSE:COP opened at $90.70 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $115.40 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The business has a fifty day moving average price of $99.53 and a 200-day moving average price of $104.31.

ConocoPhillips (NYSE:COP) last posted 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 return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 dividend on an annualized basis and a yield of 3.44%. ConocoPhillips’s payout ratio is presently 40.05%.

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.