ConocoPhillips (NYSE:COP) Shares Bought by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 14.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,663 shares of the energy producer’s stock after acquiring an additional 331 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in ConocoPhillips were worth $264,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COP. Cypress Capital Group raised its position in shares of ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. increased its stake in shares of ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares during the last quarter. Smithfield Trust Co raised its holdings in ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after acquiring an additional 100 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after acquiring an additional 100 shares during the last quarter. Finally, Verus Capital Partners LLC grew its holdings in ConocoPhillips by 2.0% during the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler reduced their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.47.

ConocoPhillips Stock Performance

Shares of COP opened at $97.19 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm’s 50 day moving average is $100.11 and its 200-day moving average is $105.16. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The stock has a market capitalization of $123.67 billion, a P/E ratio of 12.48, a P/E/G ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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 research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 3.21%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.