King Luther Capital Management Corp Has $231.14 Million Position in ConocoPhillips (NYSE:COP)

King Luther Capital Management Corp lifted its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,330,756 shares of the energy producer’s stock after buying an additional 14,154 shares during the quarter. ConocoPhillips comprises 1.0% of King Luther Capital Management Corp’s investment portfolio, making the stock its 27th largest position. King Luther Capital Management Corp’s holdings in ConocoPhillips were worth $231,141,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Albion Financial Group UT lifted its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the period. Centricity Wealth Management LLC acquired a new position in ConocoPhillips during the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter worth $31,000. RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter worth $35,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips during the fourth quarter worth $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Raymond James downgraded shares of 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 report on Monday, February 10th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $92.60 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $117.82 billion, a PE ratio of 11.89, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The company has a 50-day moving average price of $99.44 and a two-hundred day moving average price of $104.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 net margin of 16.23% and a return on equity of 17.26%. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.37%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Insider Activity

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value 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 $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

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.