ING Groep NV Purchases 233,833 Shares of ConocoPhillips (NYSE:COP)

ING Groep NV boosted its position in shares of ConocoPhillips (NYSE:COP) by 642.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,234 shares of the energy producer’s stock after acquiring an additional 233,833 shares during the quarter. ING Groep NV’s holdings in ConocoPhillips were worth $26,799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the third quarter valued at $26,000. Albion Financial Group UT increased its holdings in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at about $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Finally, TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value 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. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 2.5 %

COP stock opened at $102.05 on Friday. The stock has a market capitalization of $117.45 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a 50-day moving average price of $100.17 and a 200-day moving average price of $105.48.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.