ConocoPhillips (NYSE:COP) Shares Bought by Grimes & Company Inc.

Grimes & Company Inc. grew its position in shares of ConocoPhillips (NYSE:COP) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,310 shares of the energy producer’s stock after purchasing an additional 270 shares during the period. Grimes & Company Inc.’s holdings in ConocoPhillips were worth $1,221,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COP. AXA S.A. lifted its stake in ConocoPhillips by 7.1% during the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after purchasing an additional 2,116 shares in the last quarter. AQR Capital Management LLC lifted its stake in ConocoPhillips by 25.2% during the second quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock worth $70,363,000 after purchasing an additional 123,834 shares in the last quarter. Mackenzie Financial Corp lifted its stake in ConocoPhillips by 1.6% during the second quarter. Mackenzie Financial Corp now owns 1,262,477 shares of the energy producer’s stock worth $144,402,000 after purchasing an additional 20,443 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in ConocoPhillips by 1,005.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 306,327 shares of the energy producer’s stock worth $35,038,000 after purchasing an additional 278,627 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in shares of ConocoPhillips by 5.3% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 64,708 shares of the energy producer’s stock valued at $7,401,000 after acquiring an additional 3,286 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock opened at $101.88 on Friday. The stock’s 50-day moving average is $102.98 and its two-hundred day moving average is $107.13. The firm has a market cap of $117.26 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. 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 (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, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COP shares. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Piper Sandler reduced their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Raymond James increased their price objective on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective 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 equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $135.89.

Insider Transactions 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 stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.