Arbor Trust Wealth Advisors LLC Purchases 5,127 Shares of ConocoPhillips (NYSE:COP)

Arbor Trust Wealth Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 287.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,911 shares of the energy producer’s stock after acquiring an additional 5,127 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in ConocoPhillips were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Tidal Investments LLC lifted its holdings in shares of ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing 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 buying an additional 7,490 shares during the period. Brookstone Capital Management grew its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on COP. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday. They set a “buy” rating and a $125.00 target price for the company. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $136.00.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $105.76 on Friday. The business’s fifty day moving average is $103.79 and its 200 day moving average is $107.47. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

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

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.