Versant Capital Management Inc Has $440,000 Stock Position in ConocoPhillips (NYSE:COP)

Versant Capital Management Inc lifted its stake in ConocoPhillips (NYSE:COP) by 46.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,439 shares of the energy producer’s stock after acquiring an additional 1,406 shares during the period. Versant Capital Management Inc’s holdings in ConocoPhillips were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fiera Capital Corp acquired a new position in ConocoPhillips in the 2nd quarter valued at approximately $3,075,000. Founders Financial Securities LLC lifted its position in ConocoPhillips by 11.9% during the 2nd quarter. Founders Financial Securities LLC now owns 10,412 shares of the energy producer’s stock worth $1,191,000 after buying an additional 1,110 shares in the last quarter. Cozad Asset Management Inc. grew its stake in shares of ConocoPhillips by 7.5% during the second quarter. Cozad Asset Management Inc. now owns 5,800 shares of the energy producer’s stock valued at $663,000 after purchasing an additional 406 shares during the last quarter. Simon Quick Advisors LLC boosted its position in ConocoPhillips by 24.9% in the 2nd quarter. Simon Quick Advisors LLC now owns 4,516 shares of the energy producer’s stock valued at $517,000 after buying an additional 901 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in ConocoPhillips by 5.9% in the second quarter. Foundations Investment Advisors LLC now owns 12,012 shares of the energy producer’s stock worth $1,374,000 after purchasing an additional 673 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on COP. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $136.71.

Insider Buying and Selling

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % 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 insiders.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $100.08 on Friday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market capitalization of $115.18 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The stock has a fifty day moving average of $104.85 and a 200-day moving average of $108.20.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 EPS. On average, sell-side analysts expect that ConocoPhillips will post 7.77 earnings per share 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 paid a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.12%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.