HM Payson & Co. Buys 9,948 Shares of ConocoPhillips $COP

HM Payson & Co. increased its position in shares of ConocoPhillips (NYSE:COP) by 37.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,657 shares of the energy producer’s stock after purchasing an additional 9,948 shares during the period. HM Payson & Co.’s holdings in ConocoPhillips were worth $3,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Hughes Medical Institute bought a new position in shares of ConocoPhillips during the 2nd quarter worth about $25,000. Bogart Wealth LLC increased its stake in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management raised its position in ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. BNP Paribas bought a new position in ConocoPhillips during the second quarter worth about $33,000. Finally, Traub Capital Management LLC acquired a new stake in ConocoPhillips during the second quarter valued at approximately $38,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group increased their price target on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price target on shares of ConocoPhillips in a report on Monday, November 24th. Raymond James Financial reduced their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Finally, Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Nineteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.08.

ConocoPhillips Stock Down 0.3%

Shares of COP opened at $91.53 on Monday. The business’s fifty day moving average price is $90.05 and its two-hundred day moving average price is $92.52. The firm has a market capitalization of $113.10 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.07 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s payout ratio is presently 47.52%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Mcraven bought 5,768 shares of the company’s stock in a transaction on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.