Jacobi Capital Management LLC Increases Position in ConocoPhillips (NYSE:COP)

Jacobi Capital Management LLC grew its stake in ConocoPhillips (NYSE:COP) by 5.7% during the fourth quarter, HoldingsChannel reports. The fund owned 28,072 shares of the energy producer’s stock after acquiring an additional 1,524 shares during the quarter. Jacobi Capital Management LLC’s holdings in ConocoPhillips were worth $2,784,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. AMF Tjanstepension AB grew its stake in ConocoPhillips by 4.7% during the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares during the last quarter. Mutual Advisors LLC grew its stake in ConocoPhillips by 3.0% during the 3rd quarter. Mutual Advisors LLC now owns 13,739 shares of the energy producer’s stock worth $1,434,000 after buying an additional 398 shares during the last quarter. Diversify Wealth Management LLC grew its stake in ConocoPhillips by 7.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 3,106 shares of the energy producer’s stock worth $325,000 after buying an additional 212 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in ConocoPhillips by 1.3% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 246,504 shares of the energy producer’s stock worth $25,952,000 after buying an additional 3,202 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $99.12 on Friday. The stock has a market capitalization of $126.12 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $100.19 and a 200 day moving average of $105.08.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. UBS Group lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.47.

Insiders Place Their Bets

In related news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This 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 owned by company insiders.

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.