ConocoPhillips (NYSE:COP) Shares Acquired by Dakota Community Bank & Trust NA

Dakota Community Bank & Trust NA raised its stake in shares of ConocoPhillips (NYSE:COP) by 23.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 932 shares of the energy producer’s stock after purchasing an additional 175 shares during the period. Dakota Community Bank & Trust NA’s holdings in ConocoPhillips were worth $92,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COP. Retirement Wealth Solutions LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $35,000. Brooklyn Investment Group increased its stake in ConocoPhillips by 4.6% during the fourth quarter. Brooklyn Investment Group now owns 6,583 shares of the energy producer’s stock worth $653,000 after acquiring an additional 287 shares during the last quarter. Sax Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 9.8% in the 4th quarter. Sax Wealth Advisors LLC now owns 2,690 shares of the energy producer’s stock worth $267,000 after purchasing an additional 241 shares during the period. Merit Financial Group LLC lifted its stake in shares of ConocoPhillips by 47.7% in the 4th quarter. Merit Financial Group LLC now owns 28,077 shares of the energy producer’s stock valued at $2,784,000 after purchasing an additional 9,068 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of ConocoPhillips by 18.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,561 shares of the energy producer’s stock worth $254,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COP shares. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $136.00.

ConocoPhillips Price Performance

Shares of COP stock opened at $105.76 on Friday. The firm has a fifty day moving average of $103.91 and a two-hundred day moving average of $107.53. The firm has a market cap of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm earned $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, research analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the 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 acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

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.