Securian Asset Management Inc. Boosts Stock Position in ConocoPhillips (NYSE:COP)

Securian Asset Management Inc. raised its stake in shares of ConocoPhillips (NYSE:COP) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,522 shares of the energy producer’s stock after acquiring an additional 5,296 shares during the period. Securian Asset Management Inc.’s holdings in ConocoPhillips were worth $6,894,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COP. Albion Financial Group UT grew its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $35,000. Finally, Marshall Investment Management LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP opened at $95.44 on Wednesday. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The business has a 50 day moving average price of $99.37 and a two-hundred day moving average price of $104.07. The company has a market capitalization of $121.43 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

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, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling

In other 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, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction 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 completion of the acquisition, 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. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. UBS Group reduced their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.47.

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.