abrdn plc Increases Holdings in ConocoPhillips (NYSE:COP)

abrdn plc raised its stake in ConocoPhillips (NYSE:COP) by 3.7% during the fourth quarter, HoldingsChannel reports. The fund owned 536,700 shares of the energy producer’s stock after buying an additional 19,153 shares during the period. abrdn plc’s holdings in ConocoPhillips were worth $52,795,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. E&G Advisors LP purchased a new stake in ConocoPhillips during the 4th quarter valued at about $201,000. Alliance Wealth Advisors LLC UT grew its holdings in shares of ConocoPhillips by 31.6% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 5,245 shares of the energy producer’s stock valued at $520,000 after buying an additional 1,260 shares during the last quarter. F&V Capital Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $15,186,000. GDS Wealth Management raised its holdings in ConocoPhillips by 13.0% in the 4th quarter. GDS Wealth Management now owns 2,324 shares of the energy producer’s stock worth $230,000 after acquiring an additional 267 shares during the last quarter. Finally, Financial Life Planners bought a new position in ConocoPhillips in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $100.61 on Wednesday. The firm has a market cap of $115.80 billion, a PE ratio of 11.96, a PEG ratio of 0.76 and a beta of 1.18. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a 50 day moving average of $101.67 and a 200 day moving average of $106.46. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. 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, Wells Fargo & Company dropped their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $135.89.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents 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 link. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction 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. The trade was a 37.68 % 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.