ING Groep NV Purchases 233,833 Shares of ConocoPhillips (NYSE:COP)

ING Groep NV grew its position in shares of ConocoPhillips (NYSE:COP) by 642.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,234 shares of the energy producer’s stock after purchasing an additional 233,833 shares during the quarter. ING Groep NV’s holdings in ConocoPhillips were worth $26,799,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in COP. Cypress Capital Group boosted its stake in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after buying an additional 96 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares in the last quarter. Smithfield Trust Co boosted its stake in ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after buying an additional 100 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after buying an additional 100 shares in the last quarter. Finally, Verus Capital Partners LLC boosted its stake in ConocoPhillips by 2.0% in the third quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after buying an additional 102 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.5 %

ConocoPhillips stock opened at $102.05 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The stock has a market capitalization of $117.45 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The business’s fifty day moving average is $100.17 and its 200 day moving average is $105.48.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Ratings Changes

COP has been the subject of several research reports. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Wells Fargo & Company lowered their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.56.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction on 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 acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.