Chevy Chase Trust Holdings LLC Buys 54,440 Shares of ConocoPhillips (NYSE:COP)

Chevy Chase Trust Holdings LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 746,965 shares of the energy producer’s stock after purchasing an additional 54,440 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in ConocoPhillips were worth $74,077,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares during the last quarter. Brookstone Capital Management boosted its stake in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Prospera Financial Services Inc boosted its stake in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after purchasing an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake 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 purchasing an additional 46,621 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was 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 Price Performance

NYSE COP opened at $96.90 on Friday. 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 business’s fifty day moving average is $100.73 and its 200 day moving average is $105.91. The company has a market capitalization of $111.52 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley initiated coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research note on Monday. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, UBS Group dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.56.

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.