Proffitt & Goodson Inc. Buys 765 Shares of ConocoPhillips (NYSE:COP)

Proffitt & Goodson Inc. raised its stake in shares of ConocoPhillips (NYSE:COP) by 813.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 859 shares of the energy producer’s stock after acquiring an additional 765 shares during the quarter. Proffitt & Goodson Inc.’s holdings in ConocoPhillips were worth $85,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp increased its stake in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP increased 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 acquiring an additional 5,240,016 shares during the period. Fisher Asset Management LLC increased its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the period. Pacer Advisors Inc. grew its stake in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after buying an additional 3,541,504 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. 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 target price on the stock. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.47.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % 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.

ConocoPhillips Stock Performance

Shares of COP stock opened at $99.12 on Friday. The stock has a market cap of $126.12 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a fifty day moving average price of $100.19 and a two-hundred day moving average price of $105.08. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted 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 net margin of 16.23% and a return on equity of 17.26%. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

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 issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

ConocoPhillips 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.