ConocoPhillips (NYSE:COP) Stake Raised by CNB Bank

CNB Bank increased its stake in ConocoPhillips (NYSE:COP) by 9.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,345 shares of the energy producer’s stock after buying an additional 695 shares during the quarter. CNB Bank’s holdings in ConocoPhillips were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COP. Values First Advisors Inc. acquired a new position in ConocoPhillips in the third quarter worth approximately $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter valued at $31,000. Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.2 %

Shares of COP stock opened at $105.84 on Friday. The stock has a 50 day moving average of $104.05 and a 200-day moving average of $107.54. The firm has a market cap of $121.81 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The business’s revenue was down 8.5% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. ConocoPhillips’s payout ratio is currently 37.10%.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were acquired 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 trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly 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. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Wells Fargo & Company dropped their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $136.00.

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.