Spinnaker Trust Increases Stock Position in ConocoPhillips (NYSE:COP)

Spinnaker Trust grew its stake in shares of ConocoPhillips (NYSE:COP) by 5.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,390 shares of the energy producer’s stock after buying an additional 119 shares during the period. Spinnaker Trust’s holdings in ConocoPhillips were worth $237,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the 4th 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 in the last quarter. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price 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 $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.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Piper Sandler decreased 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. Two equities research 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. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $133.56.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $96.39 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $100.44 and its two-hundred day moving average price is $105.76. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. 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 (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. ConocoPhillips’s dividend payout ratio is currently 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.