ConocoPhillips (NYSE:COP) Stake Increased by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 79.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,795 shares of the energy producer’s stock after acquiring an additional 3,445 shares during the period. Berkeley Capital Partners LLC’s holdings in ConocoPhillips were worth $773,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of COP. Tidal Investments LLC raised its stake in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. boosted its holdings in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after purchasing an additional 7,174 shares during the period. Brookstone Capital Management increased its stake in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after buying an additional 4,504,653 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. 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, February 12th. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.05.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on 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 transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.8 %

NYSE COP opened at $101.33 on Thursday. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company has a market capitalization of $128.93 billion, a P/E ratio of 13.01, a PEG ratio of 0.79 and a beta of 1.12. The company’s 50 day simple moving average is $99.19 and its 200 day simple moving average is $103.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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%. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.08%. ConocoPhillips’s payout ratio is presently 40.05%.

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.