Nicholas Hoffman & Company LLC. Grows Holdings in ConocoPhillips (NYSE:COP)

Nicholas Hoffman & Company LLC. increased its position in shares of ConocoPhillips (NYSE:COP) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,463 shares of the energy producer’s stock after purchasing an additional 669 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in ConocoPhillips were worth $839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Cypress Capital Group boosted its holdings in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after buying an additional 96 shares during the last quarter. Orrstown Financial Services Inc. boosted its holdings 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 boosted its holdings in shares of ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after buying an additional 100 shares during the last quarter. Principle Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after buying an additional 100 shares during the last quarter. Finally, Verus Capital Partners LLC boosted its holdings in shares of ConocoPhillips by 2.0% in the third quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after buying an additional 102 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.5 %

Shares of COP opened at $96.39 on Monday. The company’s fifty day moving average is $100.44 and its 200 day moving average is $105.73. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market capitalization of $110.93 billion, a PE ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. Sell-side analysts expect that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. UBS Group dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Finally, Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.56.

Insider Buying and Selling

In other news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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.