Tompkins Financial Corp Raises Position in ConocoPhillips (NYSE:COP)

Tompkins Financial Corp boosted its position in ConocoPhillips (NYSE:COP) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,992 shares of the energy producer’s stock after purchasing an additional 503 shares during the period. Tompkins Financial Corp’s holdings in ConocoPhillips were worth $396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the third quarter valued at about $31,000. Global Wealth Strategies & Associates boosted its position in 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 during the period. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the third quarter worth about $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $105.62 on Friday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $121.56 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The firm’s fifty day moving average price is $104.05 and its 200-day moving average price is $107.54.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. ConocoPhillips’s payout ratio is presently 37.10%.

Insiders Place Their Bets

In related news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. TD Cowen began coverage on ConocoPhillips in a research note on Friday. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $136.00.

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.