Walker Asset Management LLC Purchases 1,197 Shares of ConocoPhillips (NYSE:COP)

Walker Asset Management LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 37.2% in the fourth quarter, Holdings Channel reports. The fund owned 4,417 shares of the energy producer’s stock after purchasing an additional 1,197 shares during the quarter. Walker Asset Management LLC’s holdings in ConocoPhillips were worth $438,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Cypress Capital Group lifted its position in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the last quarter. Aprio Wealth Management LLC lifted its holdings in ConocoPhillips by 4.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after buying an additional 97 shares in the last quarter. Godshalk Welsh Capital Management Inc. lifted its holdings in ConocoPhillips by 1.2% during the 2nd quarter. Godshalk Welsh Capital Management Inc. now owns 8,751 shares of the energy producer’s stock valued at $1,001,000 after buying an additional 100 shares in the last quarter. Smithfield Trust Co grew its stake in ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after acquiring an additional 100 shares in the last quarter. Finally, Ignite Planners LLC increased its position in shares of ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after acquiring an additional 102 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company dropped their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday. TD Cowen started coverage on ConocoPhillips in a report on Friday. They issued a “buy” rating and a $125.00 price objective for the company. Evercore ISI reissued an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Buy” and an average target price of $136.00.

ConocoPhillips Stock Up 0.1 %

Shares of COP stock opened at $105.76 on Friday. The stock’s fifty day moving average price is $103.91 and its 200 day moving average price is $107.53. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a market cap of $121.72 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

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

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.