abrdn plc Purchases 19,153 Shares of ConocoPhillips (NYSE:COP)

abrdn plc increased its position in shares of ConocoPhillips (NYSE:COP) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 536,700 shares of the energy producer’s stock after acquiring an additional 19,153 shares during the period. abrdn plc’s holdings in ConocoPhillips were worth $52,795,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased 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 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 disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 2.2 %

NYSE COP opened at $100.61 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $115.80 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The stock has a 50 day simple moving average of $101.67 and a two-hundred day simple moving average of $106.46.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $135.89.

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.