Washington Trust Advisors Inc. Raises Stake in ConocoPhillips (NYSE:COP)

Washington Trust Advisors Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 57.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 697 shares of the energy producer’s stock after purchasing an additional 255 shares during the quarter. Washington Trust Advisors Inc.’s holdings in ConocoPhillips were worth $69,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COP. Albion Financial Group UT boosted its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at $31,000. Global Wealth Strategies & Associates boosted its stake 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 valued at $34,000 after purchasing an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP opened at $88.56 on Friday. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $112.69 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm’s 50-day moving average price is $99.66 and its 200-day moving average price is $104.53.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued 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 3.52%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Piper Sandler lowered their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

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.