First National Advisers LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

First National Advisers LLC boosted its position in shares of ConocoPhillips (NYSE:COPGet Rating) by 13.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,408 shares of the energy producer’s stock after buying an additional 398 shares during the quarter. First National Advisers LLC’s holdings in ConocoPhillips were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of COP. Cowa LLC lifted its holdings in shares of ConocoPhillips by 3.5% in the 3rd quarter. Cowa LLC now owns 23,718 shares of the energy producer’s stock worth $2,328,000 after acquiring an additional 802 shares during the last quarter. Commerce Bank boosted its position in shares of ConocoPhillips by 2.1% during the third quarter. Commerce Bank now owns 123,453 shares of the energy producer’s stock valued at $12,634,000 after buying an additional 2,551 shares during the period. Schechter Investment Advisors LLC grew its stake in shares of ConocoPhillips by 2.3% during the third quarter. Schechter Investment Advisors LLC now owns 23,362 shares of the energy producer’s stock valued at $2,391,000 after buying an additional 534 shares during the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $298,000. Finally, Total Clarity Wealth Management Inc. lifted its stake in shares of ConocoPhillips by 19.0% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 14,857 shares of the energy producer’s stock worth $1,520,000 after acquiring an additional 2,369 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 4,860 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $112.58, for a total value of $547,138.80. Following the completion of the transaction, the director now directly owns 661,142 shares in the company, valued at $74,431,366.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Timothy A. Leach sold 4,860 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $112.58, for a total transaction of $547,138.80. Following the transaction, the director now owns 661,142 shares in the company, valued at $74,431,366.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 10,950 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Down 1.1 %

ConocoPhillips stock traded down $1.28 during trading hours on Wednesday, reaching $117.53. The stock had a trading volume of 613,629 shares, compared to its average volume of 4,540,096. The company has a market cap of $146.45 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 0.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.46 and a quick ratio of 1.37. The business’s 50 day moving average price is $118.90 and its 200-day moving average price is $112.53. ConocoPhillips has a 52 week low of $78.30 and a 52 week high of $138.49.

ConocoPhillips (NYSE:COPGet Rating) last announced its earnings results on Thursday, November 3rd. The energy producer reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.19. The business had revenue of $21.61 billion during the quarter, compared to the consensus estimate of $17.05 billion. ConocoPhillips had a net margin of 22.90% and a return on equity of 35.02%. Sell-side analysts anticipate that ConocoPhillips will post 13.56 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, December 27th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, December 23rd. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.74%. ConocoPhillips’s payout ratio is currently 14.70%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group assumed coverage on ConocoPhillips in a research report on Wednesday, October 19th. They issued a “buy” rating and a $143.00 price objective on the stock. Societe Generale downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating and raised their price target for the stock from $106.00 to $114.00 in a research note on Monday, November 21st. They noted that the move was a valuation call. Truist Financial lowered their price objective on shares of ConocoPhillips from $155.00 to $148.00 in a research report on Thursday, January 19th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, December 14th. Finally, Scotiabank cut ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $145.00 to $140.00 in a research note on Tuesday, January 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.29.

About ConocoPhillips

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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