Brookmont Capital Management Has $2.91 Million Stock Position in ConocoPhillips (NYSE:COP)

Brookmont Capital Management decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,325 shares of the energy producer’s stock after selling 1,693 shares during the quarter. ConocoPhillips makes up about 1.6% of Brookmont Capital Management’s holdings, making the stock its 24th biggest position. Brookmont Capital Management’s holdings in ConocoPhillips were worth $2,908,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its stake in ConocoPhillips by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 117,623 shares of the energy producer’s stock valued at $13,454,000 after buying an additional 39,016 shares during the last quarter. AE Wealth Management LLC boosted its holdings in ConocoPhillips by 6.6% in the 2nd quarter. AE Wealth Management LLC now owns 32,342 shares of the energy producer’s stock valued at $3,699,000 after purchasing an additional 1,995 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in ConocoPhillips by 135.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,378 shares of the energy producer’s stock valued at $1,645,000 after purchasing an additional 8,270 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in ConocoPhillips by 18,028.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 6,889 shares of the energy producer’s stock valued at $788,000 after purchasing an additional 6,851 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in ConocoPhillips by 3.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 53,008 shares of the energy producer’s stock valued at $6,063,000 after purchasing an additional 1,576 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE:COP opened at $105.76 on Tuesday. The stock has a market cap of $121.72 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.88 and a beta of 1.19. The company has a 50 day moving average of $103.79 and a 200-day moving average of $107.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 7.68 earnings per share for the current year.

ConocoPhillips Increases Dividend

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

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays raised 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. Finally, Wells Fargo & Company cut their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two research 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $136.00.

Insider Activity at ConocoPhillips

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

ConocoPhillips 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.