Ingalls & Snyder LLC Acquires 1,417 Shares of ConocoPhillips (NYSE:COP)

Ingalls & Snyder LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 10.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 14,804 shares of the energy producer’s stock after purchasing an additional 1,417 shares during the quarter. Ingalls & Snyder LLC’s holdings in ConocoPhillips were worth $1,468,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. AMF Tjanstepension AB lifted its stake in ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after purchasing an additional 52,334 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of ConocoPhillips by 7.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,168 shares of the energy producer’s stock valued at $228,000 after purchasing an additional 150 shares during the last quarter. Creative Planning grew its holdings in ConocoPhillips by 1.7% during the 3rd quarter. Creative Planning now owns 248,439 shares of the energy producer’s stock valued at $26,156,000 after purchasing an additional 4,214 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of ConocoPhillips by 2.5% in the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock worth $442,000 after buying an additional 102 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in ConocoPhillips by 73.4% in the third quarter. Vontobel Holding Ltd. now owns 14,982 shares of the energy producer’s stock worth $1,577,000 after purchasing an additional 6,344 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $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. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $133.56.

ConocoPhillips Trading Down 1.5 %

Shares of NYSE:COP opened at $96.90 on Friday. The company has a 50 day moving average of $100.73 and a 200-day moving average of $105.91. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a market cap of $111.52 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.77 and a beta of 1.18. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

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.