Johnson Financial Group Inc. Has $748,000 Stake in ConocoPhillips (NYSE:COP)

Johnson Financial Group Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 215.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,447 shares of the energy producer’s stock after purchasing an additional 4,405 shares during the quarter. Johnson Financial Group Inc.’s holdings in ConocoPhillips were worth $748,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. KLCM Advisors Inc. grew its position in ConocoPhillips by 2.8% in the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after purchasing an additional 89 shares during the period. Evergreen Capital Management LLC grew its position in ConocoPhillips by 0.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after purchasing an additional 89 shares during the period. Greenfield Savings Bank grew its position in ConocoPhillips by 1.3% in the 4th quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after purchasing an additional 94 shares during the period. Cyndeo Wealth Partners LLC grew its position in ConocoPhillips by 3.0% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 3,329 shares of the energy producer’s stock valued at $386,000 after purchasing an additional 98 shares during the period. Finally, Waverly Advisors LLC boosted its holdings in ConocoPhillips by 2.1% during the 3rd quarter. Waverly Advisors LLC now owns 4,847 shares of the energy producer’s stock worth $581,000 after acquiring an additional 100 shares during the last quarter. 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 dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Insiders have sold a total of 664,350 shares of company stock valued at $83,537,680 over the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COP has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Piper Sandler upped their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company upped their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.40 during midday trading on Friday, reaching $117.25. The company had a trading volume of 2,851,146 shares, compared to its average volume of 5,001,379. The stock has a market cap of $137.13 billion, a P/E ratio of 13.28, a P/E/G ratio of 2.59 and a beta of 1.25. ConocoPhillips has a 52-week low of $98.38 and a 52-week high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average price is $125.92 and its 200 day moving average price is $117.75.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.09 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

ConocoPhillips 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.