National Pension Service Grows Stake in ConocoPhillips (NYSE:COP)

National Pension Service lifted its holdings in ConocoPhillips (NYSE:COP) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,379,969 shares of the energy producer’s stock after acquiring an additional 31,554 shares during the quarter. National Pension Service’s holdings in ConocoPhillips were worth $236,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Albion Financial Group UT grew its stake 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 purchasing an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $27,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Activity

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

ConocoPhillips Price Performance

COP stock opened at $96.99 on Wednesday. The stock has a market cap of $123.41 billion, a PE ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a 50-day moving average price of $100.07 and a 200 day moving average price of $105.28. 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.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. ConocoPhillips’s payout ratio is presently 40.05%.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Two 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

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.