Searle & CO. Has $1.88 Million Stake in ConocoPhillips (NYSE:COP)

Searle & CO. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 37.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,177 shares of the energy producer’s stock after acquiring an additional 4,448 shares during the period. Searle & CO.’s holdings in ConocoPhillips were worth $1,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Orion Capital Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $27,000. West Branch Capital LLC increased its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares during the last quarter. Spartan Planning & Wealth Management acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at $40,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at $46,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.0 %

COP traded down $1.28 during trading on Wednesday, reaching $124.34. 5,422,033 shares of the stock traded hands, compared to its average volume of 5,344,500. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average is $123.20 and its 200 day moving average is $117.67. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18. The stock has a market capitalization of $146.27 billion, a PE ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the company earned $2.71 EPS. Equities analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.51%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Insider Activity at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective for the company. Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Company boosted their price objective on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Truist Financial dropped their target price on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday. Finally, UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips Company 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.