ConocoPhillips (NYSE:COP) is Advisory Resource Group’s 3rd Largest Position

Advisory Resource Group decreased its position in ConocoPhillips (NYSE:COP) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 217,416 shares of the energy producer’s stock after selling 1,287 shares during the period. ConocoPhillips accounts for 4.6% of Advisory Resource Group’s holdings, making the stock its 3rd largest position. Advisory Resource Group’s holdings in ConocoPhillips were worth $21,561,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Farmers & Merchants Investments Inc. lifted its holdings in shares of ConocoPhillips by 1.2% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 107,029 shares of the energy producer’s stock worth $10,614,000 after acquiring an additional 1,252 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of ConocoPhillips by 9.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 76,009 shares of the energy producer’s stock worth $7,538,000 after acquiring an additional 6,480 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 14.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 27,013 shares of the energy producer’s stock worth $2,679,000 after acquiring an additional 3,402 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 42.0% in the 4th quarter. Apollon Wealth Management LLC now owns 28,860 shares of the energy producer’s stock worth $2,862,000 after acquiring an additional 8,533 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of ConocoPhillips by 0.3% in the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 177,349 shares of the energy producer’s stock worth $17,588,000 after acquiring an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.6 %

Shares of ConocoPhillips stock opened at $98.34 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The company has a market capitalization of $113.18 billion, a P/E ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18. The company’s fifty day moving average is $101.05 and its two-hundred day moving average is $106.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on COP shares. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Susquehanna increased their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $135.89.

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.