Signet Financial Management LLC Increases Position in ConocoPhillips (NYSE:COP)

Signet Financial Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 400.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,249 shares of the energy producer’s stock after acquiring an additional 20,204 shares during the period. Signet Financial Management LLC’s holdings in ConocoPhillips were worth $2,504,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC increased its position in ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after purchasing an additional 924,289 shares during the last quarter. Franklin Resources Inc. raised its stake in ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $2.37 during midday trading on Monday, hitting $104.29. The company’s stock had a trading volume of 7,340,678 shares, compared to its average volume of 5,902,448. The firm has a market cap of $120.03 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm’s fifty day moving average price is $104.39 and its 200-day moving average price is $107.70. 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 announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. ConocoPhillips’s payout ratio is 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Evercore ISI reissued an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $136.76.

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.