ConocoPhillips (NYSE:COP) Shares Purchased by Garner Asset Management Corp

Garner Asset Management Corp lifted its holdings in ConocoPhillips (NYSE:COP) by 13.1% in the fourth quarter, Holdings Channel reports. The firm owned 13,901 shares of the energy producer’s stock after buying an additional 1,606 shares during the period. Garner Asset Management Corp’s holdings in ConocoPhillips were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. WealthPlan Investment Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $441,000. Canada Pension Plan Investment Board raised its stake in shares of ConocoPhillips by 568.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 116,755 shares of the energy producer’s stock valued at $13,987,000 after buying an additional 99,300 shares during the last quarter. Greenleaf Trust raised its stake in shares of ConocoPhillips by 18.2% during the 3rd quarter. Greenleaf Trust now owns 22,396 shares of the energy producer’s stock valued at $2,683,000 after buying an additional 3,448 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in shares of ConocoPhillips by 9.0% during the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 2,602 shares of the energy producer’s stock valued at $312,000 after buying an additional 214 shares during the last quarter. Finally, Waters Parkerson & CO. LLC raised its stake in shares of ConocoPhillips by 30.2% during the 3rd quarter. Waters Parkerson & CO. LLC now owns 3,537 shares of the energy producer’s stock valued at $424,000 after buying an additional 821 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 664,350 shares of company stock worth $83,537,680. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $0.34 on Tuesday, hitting $113.64. 4,181,231 shares of the company were exchanged, compared to its average volume of 5,467,672. The stock has a market capitalization of $132.91 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 2.51 and a beta of 1.23. The company has a 50-day moving average price of $123.60 and a 200 day moving average price of $117.74. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, sell-side analysts predict that ConocoPhillips will post 8.93 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley lifted 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. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday. UBS Group lifted their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Piper Sandler lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.35.

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.