Good Life Advisors LLC Buys 914 Shares of ConocoPhillips (NYSE:COP)

Good Life Advisors LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 9.3% in the fourth quarter, Holdings Channel reports. The fund owned 10,788 shares of the energy producer’s stock after acquiring an additional 914 shares during the period. Good Life Advisors LLC’s holdings in ConocoPhillips were worth $1,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Tidal Investments LLC boosted its position in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares during the last quarter. Brookstone Capital Management grew its position in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after acquiring an additional 383 shares during the last quarter. Prospera Financial Services Inc increased its holdings in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after purchasing an additional 13,595 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after purchasing an additional 46,621 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated 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 transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. Piper Sandler lowered their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two investment 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’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $133.56.

ConocoPhillips Stock Up 2.1 %

Shares of ConocoPhillips stock opened at $99.55 on Thursday. The company has a market capitalization of $114.57 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.75 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 business has a 50-day moving average of $100.15 and a two-hundred day moving average of $105.51. ConocoPhillips has a 1 year low of $94.23 and a 1 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 return on equity of 17.26% and a net margin of 16.23%. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.13%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

ConocoPhillips Company 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.