ConocoPhillips (NYSE:COP) Stake Boosted by Morton Community Bank

Morton Community Bank raised its position in shares of ConocoPhillips (NYSE:COP) by 0.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 37,123 shares of the energy producer’s stock after buying an additional 145 shares during the period. Morton Community Bank’s holdings in ConocoPhillips were worth $3,681,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in COP. Tortoise Investment Management LLC lifted its position in shares of ConocoPhillips by 10.7% in the 4th quarter. Tortoise Investment Management LLC now owns 1,765 shares of the energy producer’s stock valued at $175,000 after acquiring an additional 171 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of ConocoPhillips by 0.8% during the fourth quarter. Independent Advisor Alliance now owns 91,660 shares of the energy producer’s stock valued at $9,090,000 after buying an additional 735 shares in the last quarter. Paragon Private Wealth Management LLC raised its position in ConocoPhillips by 10.4% during the fourth quarter. Paragon Private Wealth Management LLC now owns 2,744 shares of the energy producer’s stock valued at $272,000 after buying an additional 258 shares during the period. Meriwether Wealth & Planning LLC purchased a new stake in ConocoPhillips in the 4th quarter worth about $900,000. Finally, Johnson Investment Counsel Inc. lifted its stake in ConocoPhillips by 28.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 50,956 shares of the energy producer’s stock worth $5,053,000 after acquiring an additional 11,234 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, 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 purchase 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 business’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % 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 company insiders.

ConocoPhillips Trading Up 2.4 %

Shares of COP stock opened at $90.70 on Monday. The stock has a market cap of $115.40 billion, a price-to-earnings ratio of 11.64, a P/E/G 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. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The firm has a fifty day moving average of $99.53 and a 200-day moving average of $104.31.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Finally, Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

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.