ConocoPhillips (NYSE:COP) Position Raised by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 16.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,444 shares of the energy producer’s stock after buying an additional 11,691 shares during the period. ConocoPhillips accounts for approximately 2.9% of Scissortail Wealth Management LLC’s portfolio, making the stock its 6th largest holding. Scissortail Wealth Management LLC’s holdings in ConocoPhillips were worth $9,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Morgan Stanley raised its position in ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares in the last quarter. Northern Trust Corp raised its position in ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after purchasing an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp raised its position in ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after purchasing an additional 1,152,907 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after purchasing an additional 659,632 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.6 %

Shares of COP stock traded down $0.72 during midday trading on Tuesday, reaching $129.53. 3,875,625 shares of the stock were exchanged, compared to its average volume of 5,500,706. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18. The company’s 50 day moving average is $119.24 and its two-hundred day moving average is $116.86. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $152.38 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the previous year, the firm posted $2.71 EPS. On average, equities research analysts predict that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is currently 25.61%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COP shares. Piper Sandler reduced their price objective on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Raymond James reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. UBS Group raised their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley raised their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Mizuho restated a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $140.59.

Insider Transactions at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

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.