PSI Advisors LLC Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

PSI Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,825 shares of the energy producer’s stock after buying an additional 538 shares during the quarter. PSI Advisors LLC’s holdings in ConocoPhillips were worth $280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Tidal Investments LLC boosted its holdings in shares of ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after acquiring an additional 31,011 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares in the last quarter. Prospera Financial Services Inc boosted its stake in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after purchasing an additional 13,595 shares during the period. The Manufacturers Life Insurance Company grew its holdings in ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after buying an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after buying an additional 4,504,653 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $104.29 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market cap of $120.03 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a 50-day moving average of $104.30 and a 200-day moving average of $107.63.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the business earned $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Ratings Changes

A number of equities analysts have recently commented on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Scotiabank reduced their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $136.76.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips 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 acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated 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 completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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.