ConocoPhillips (NYSE:COP) Shares Purchased by Charles Schwab Trust Co

Charles Schwab Trust Co 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 9,059 shares of the energy producer’s stock after purchasing an additional 248 shares during the quarter. Charles Schwab Trust Co’s holdings in ConocoPhillips were worth $898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter worth $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter valued at about $31,000. Global Wealth Strategies & Associates grew its stake in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $105.76 on Tuesday. The company has a market cap of $121.72 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The company’s fifty day moving average is $103.79 and its two-hundred day moving average is $107.37. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the company earned $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $136.00.

Insider Activity

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

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.