Global Retirement Partners LLC Increases Position in ConocoPhillips (NYSE:COP)

Global Retirement Partners LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,580 shares of the energy producer’s stock after purchasing an additional 981 shares during the period. Global Retirement Partners LLC’s holdings in ConocoPhillips were worth $950,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in COP. Tidal Investments LLC lifted its position in ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after acquiring an additional 7,174 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of ConocoPhillips by 1.9% during 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 own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. 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 report on Wednesday, February 12th. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.56.

ConocoPhillips Stock Down 4.0 %

Shares of NYSE:COP opened at $97.90 on Friday. The firm has a market capitalization of $124.57 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.78 and a beta of 1.18. The stock has a 50 day moving average price of $100.11 and a 200-day moving average price of $105.44. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. 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 (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 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%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insiders Place Their Bets

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated 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 completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

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.