Mystic Asset Management Inc. Acquires 5,039 Shares of ConocoPhillips (NYSE:COP)

Mystic Asset Management Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 157.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,244 shares of the energy producer’s stock after buying an additional 5,039 shares during the quarter. Mystic Asset Management Inc.’s holdings in ConocoPhillips were worth $818,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COP. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter worth $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter worth $31,000. Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $99.42 on Tuesday. The company has a market cap of $126.50 billion, a PE ratio of 12.76, a P/E/G ratio of 0.79 and a beta of 1.12. The firm’s 50 day moving average price is $99.22 and its 200-day moving average price is $103.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18.

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 return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.14%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on COP shares. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. 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. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.05.

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.