ConocoPhillips (NYSE:COP) Shares Purchased by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 107,029 shares of the energy producer’s stock after buying an additional 1,252 shares during the period. Farmers & Merchants Investments Inc.’s holdings in ConocoPhillips were worth $10,614,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Values First Advisors Inc. acquired a new position in ConocoPhillips in the 3rd quarter valued at about $26,000. Albion Financial Group UT increased its holdings in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.6 %

Shares of NYSE COP opened at $98.34 on Friday. The firm’s 50-day moving average is $101.05 and its two-hundred day moving average is $106.18. The company has a market capitalization of $113.18 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts anticipate that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, 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. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Buy” and an average target price of $135.89.

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.