Twin Focus Capital Partners LLC Acquires New Position in ConocoPhillips (NYSE:COP)

Twin Focus Capital Partners LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,027 shares of the energy producer’s stock, valued at approximately $235,000.

A number of other large investors have also recently modified their holdings of COP. Price T Rowe Associates Inc. MD grew its position in ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after acquiring an additional 4,726,952 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ConocoPhillips by 512.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after buying an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its position in ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock worth $535,287,000 after buying an additional 2,023,263 shares during the period. International Assets Investment Management LLC grew its holdings in ConocoPhillips by 13,905.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after acquiring an additional 1,106,305 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in ConocoPhillips by 29.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock valued at $397,288,000 after acquiring an additional 776,107 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 664,350 shares of company stock worth $83,537,680. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 1.4 %

COP traded down $1.50 during midday trading on Friday, reaching $109.39. 5,690,366 shares of the company were exchanged, compared to its average volume of 5,835,485. The company has a market cap of $127.93 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.22. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18. The company’s fifty day moving average price is $121.97 and its 200 day moving average price is $117.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, analysts expect that ConocoPhillips will post 8.93 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COP shares. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Truist Financial raised their price objective on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada upped their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Wells Fargo & Company raised their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Piper Sandler upped their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

About ConocoPhillips

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.