7,543 Shares in ConocoPhillips (NYSE:COP) Bought by FourThought Financial Partners LLC

FourThought Financial Partners LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,543 shares of the energy producer’s stock, valued at approximately $748,000.

Several other hedge funds also recently made changes to their positions in COP. State Street Corp boosted its position in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP lifted its stake in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the period. Franklin Resources Inc. boosted its holdings in shares of ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.9 %

Shares of NYSE COP opened at $96.99 on Wednesday. The stock has a market capitalization of $123.41 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a 50-day moving average price of $100.07 and a 200 day moving average price of $105.28. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent research reports. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Two investment 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. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

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.