SRS Capital Advisors Inc. Purchases 4,679 Shares of ConocoPhillips (NYSE:COP)

SRS Capital Advisors Inc. increased its position in ConocoPhillips (NYSE:COP) by 389.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,881 shares of the energy producer’s stock after purchasing an additional 4,679 shares during the quarter. SRS Capital Advisors Inc.’s holdings in ConocoPhillips were worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. State Street Corp grew its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its holdings in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC grew its holdings in ConocoPhillips by 59.7% during the 3rd 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 in the last quarter. Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after acquiring an additional 3,541,504 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COP. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. UBS Group dropped their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought 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. The trade was a 13.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value 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 $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Trading Down 6.7 %

NYSE:COP opened at $92.52 on Tuesday. ConocoPhillips has a 12 month low of $91.56 and a 12 month high of $135.18. The firm has a fifty day simple moving average of $100.12 and a 200-day simple moving average of $104.90. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $117.72 billion, a P/E ratio of 11.88, a PEG ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 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%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 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.