ConocoPhillips (NYSE:COP) Shares Bought by Scarborough Advisors LLC

Scarborough Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,972 shares of the energy producer’s stock after acquiring an additional 332 shares during the quarter. Scarborough Advisors LLC’s holdings in ConocoPhillips were worth $295,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in COP. BXM Wealth LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $778,000. Spinnaker Trust boosted its holdings in shares of ConocoPhillips by 5.2% in the 4th quarter. Spinnaker Trust now owns 2,390 shares of the energy producer’s stock valued at $237,000 after buying an additional 119 shares in the last quarter. Rhumbline Advisers grew its position in shares of ConocoPhillips by 9.5% in the 4th quarter. Rhumbline Advisers now owns 2,419,638 shares of the energy producer’s stock valued at $239,955,000 after buying an additional 209,694 shares during the last quarter. Center for Financial Planning Inc. raised its stake in ConocoPhillips by 965.1% during the 4th quarter. Center for Financial Planning Inc. now owns 458 shares of the energy producer’s stock worth $45,000 after acquiring an additional 415 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in ConocoPhillips by 8.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 62,198 shares of the energy producer’s stock valued at $6,168,000 after acquiring an additional 4,988 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased 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 directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $96.39 on Friday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The stock has a market cap of $110.93 billion, a P/E ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The firm has a 50-day moving average of $100.58 and a two-hundred day moving average of $105.85.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts expect that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.24%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COP shares. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. UBS Group cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $133.56.

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.