Dorsey & Whitney Trust CO LLC Has $3.13 Million Stake in ConocoPhillips (NYSE:COP)

Dorsey & Whitney Trust CO LLC grew its position in ConocoPhillips (NYSE:COP) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,566 shares of the energy producer’s stock after purchasing an additional 5,279 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in ConocoPhillips were worth $3,130,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its position in ConocoPhillips by 20.2% during 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 buying an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC grew 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 buying an additional 924,289 shares in the last quarter. Fisher Asset Management LLC grew its position in ConocoPhillips by 10.6% during the fourth quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after buying an additional 1,324,771 shares in the last quarter. Finally, Franklin Resources Inc. grew its position 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 buying an additional 1,506,599 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director R A. Walker bought 10,400 shares of the 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Stock Up 2.4 %

Shares of COP opened at $90.70 on Friday. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The stock has a market capitalization of $115.40 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a fifty day moving average of $99.53 and a 200-day moving average of $104.38.

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

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.47.

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.