Family Firm Inc. Boosts Stock Position in ConocoPhillips (NYSE:COP)

Family Firm Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,046 shares of the energy producer’s stock after purchasing an additional 264 shares during the quarter. Family Firm Inc.’s holdings in ConocoPhillips were worth $500,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of ConocoPhillips by 0.3% in the third quarter. Huntington National Bank now owns 105,082 shares of the energy producer’s stock worth $11,063,000 after buying an additional 329 shares during the last quarter. KBC Group NV boosted its stake in shares of ConocoPhillips by 16.2% in the third quarter. KBC Group NV now owns 390,401 shares of the energy producer’s stock worth $41,101,000 after buying an additional 54,526 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its stake in shares of ConocoPhillips by 10.8% in the third quarter. Oak Harbor Wealth Partners LLC now owns 2,050 shares of the energy producer’s stock worth $216,000 after buying an additional 200 shares during the last quarter. Balboa Wealth Partners purchased a new stake in shares of ConocoPhillips in the third quarter worth about $243,000. Finally, CIBC Asset Management Inc boosted its stake in shares of ConocoPhillips by 4.8% in the third quarter. CIBC Asset Management Inc now owns 262,152 shares of the energy producer’s stock worth $27,599,000 after buying an additional 12,024 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Trading Up 3.0 %

NYSE:COP opened at $99.10 on Friday. The stock has a 50-day simple moving average of $99.22 and a 200-day simple moving average of $103.87. The stock has a market cap of $126.09 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 return on equity of 17.26% and a net margin of 16.23%. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were bought 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 owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.