Financial Life Planners Takes $39,000 Position in ConocoPhillips (NYSE:COP)

Financial Life Planners acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 398 shares of the energy producer’s stock, valued at approximately $39,000.

Several other institutional investors have also made changes to their positions in COP. AMF Tjanstepension AB boosted its stake in shares of ConocoPhillips by 4.7% during the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after acquiring an additional 52,334 shares in the last quarter. Czech National Bank grew its position in ConocoPhillips by 6.2% during the third quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock worth $24,905,000 after buying an additional 13,707 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ConocoPhillips by 4.3% during the third quarter. GAMMA Investing LLC now owns 20,384 shares of the energy producer’s stock valued at $2,146,000 after purchasing an additional 839 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in ConocoPhillips by 2.2% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 36,251 shares of the energy producer’s stock valued at $3,817,000 after buying an additional 794 shares during the period. Finally, Smith Anglin Financial LLC raised its position in ConocoPhillips by 17.1% in the third quarter. Smith Anglin Financial LLC now owns 3,023 shares of the energy producer’s stock worth $318,000 after purchasing an additional 442 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of several recent analyst reports. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $98.47 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The stock has a market capitalization of $113.33 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.76 and a beta of 1.19. The business has a 50-day moving average price of $101.82 and a two-hundred day moving average price of $106.59.

Insider Buying and Selling

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.