Frank Rimerman Advisors LLC Has $1.03 Million Stake in ConocoPhillips (NYSE:COP)

Frank Rimerman Advisors LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 51.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,352 shares of the energy producer’s stock after buying an additional 3,509 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in ConocoPhillips were worth $1,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Harbour Investment Management LLC increased its position in shares of ConocoPhillips by 40.0% in the fourth quarter. Harbour Investment Management LLC now owns 16,205 shares of the energy producer’s stock worth $1,607,000 after purchasing an additional 4,634 shares during the period. Family Firm Inc. grew its stake in ConocoPhillips by 5.5% during the fourth quarter. Family Firm Inc. now owns 5,046 shares of the energy producer’s stock worth $500,000 after buying an additional 264 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $744,000. Hills Bank & Trust Co raised its position in shares of ConocoPhillips by 14.4% in the 4th quarter. Hills Bank & Trust Co now owns 5,687 shares of the energy producer’s stock valued at $564,000 after buying an additional 717 shares in the last quarter. Finally, First National Trust Co lifted its holdings in shares of ConocoPhillips by 8.2% during the 4th quarter. First National Trust Co now owns 54,649 shares of the energy producer’s stock worth $5,420,000 after acquiring an additional 4,122 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Arjun N. Murti acquired 2,500 shares of the company’s 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 acquisition, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade 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 owned by insiders.

ConocoPhillips Price Performance

COP stock opened at $99.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $126.09 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.12. The company’s fifty day simple moving average is $99.22 and its 200 day simple moving average is $103.81. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.15%. ConocoPhillips’s payout ratio is presently 40.05%.

Analysts Set New Price Targets

Several research analysts have commented on COP shares. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Barclays lowered their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.05.

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.