North Forty Two & Co. Acquires Shares of 4,046 ConocoPhillips (NYSE:COP)

North Forty Two & Co. acquired a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,046 shares of the energy producer’s stock, valued at approximately $401,000.

A number of other large investors have also recently made changes to their positions in the business. VSM Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $97,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of ConocoPhillips by 10.1% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 85,462 shares of the energy producer’s stock valued at $8,466,000 after purchasing an additional 7,865 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of ConocoPhillips by 3.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 69,849 shares of the energy producer’s stock valued at $6,927,000 after purchasing an additional 2,268 shares during the last quarter. ProVise Management Group LLC raised its holdings in shares of ConocoPhillips by 2.6% in the fourth quarter. ProVise Management Group LLC now owns 79,335 shares of the energy producer’s stock valued at $7,868,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Enhancing Capital LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $1,081,000. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COP shares. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. UBS Group decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Two equities research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Price Performance

COP stock opened at $100.51 on Wednesday. The firm has a 50 day moving average of $99.19 and a 200-day moving average of $103.56. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The firm has a market capitalization of $127.88 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.10%. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.