Rhumbline Advisers Boosts Stock Position in ConocoPhillips (NYSE:COP)

Rhumbline Advisers raised its stake in ConocoPhillips (NYSE:COP) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,419,638 shares of the energy producer’s stock after purchasing an additional 209,694 shares during the quarter. Rhumbline Advisers’ holdings in ConocoPhillips were worth $239,955,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Center for Financial Planning Inc. raised its position in ConocoPhillips by 965.1% during the 4th quarter. Center for Financial Planning Inc. now owns 458 shares of the energy producer’s stock worth $45,000 after buying an additional 415 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in ConocoPhillips by 8.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 62,198 shares of the energy producer’s stock worth $6,168,000 after purchasing an additional 4,988 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in ConocoPhillips by 11.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 26,251 shares of the energy producer’s stock valued at $2,603,000 after purchasing an additional 2,688 shares during the period. AustralianSuper Pty Ltd purchased a new stake in ConocoPhillips in the 4th quarter valued at approximately $15,923,000. Finally, New York State Teachers Retirement System increased its position in ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer’s stock worth $116,118,000 after purchasing an additional 80,199 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COP. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $96.39 on Friday. The stock has a market capitalization of $110.93 billion, a P/E ratio of 12.37, a P/E/G 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. The firm’s 50-day moving average is $100.58 and its two-hundred day moving average is $105.85.

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

ConocoPhillips Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.24%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

ConocoPhillips Company 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.