ConocoPhillips (NYSE:COP) Shares Purchased by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 16.8% in the 4th quarter, Holdings Channel reports. The firm owned 81,444 shares of the energy producer’s stock after purchasing an additional 11,691 shares during the quarter. ConocoPhillips accounts for approximately 2.9% of Scissortail Wealth Management LLC’s portfolio, making the stock its 6th biggest position. Scissortail Wealth Management LLC’s holdings in ConocoPhillips were worth $9,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Moneta Group Investment Advisors LLC increased its holdings in ConocoPhillips by 98,832.5% during the 4th 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 acquiring an additional 8,575,696 shares in the last quarter. Morgan Stanley grew its holdings in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after buying an additional 3,497,750 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in shares of ConocoPhillips during the third quarter worth about $310,102,000. Cowa LLC grew its holdings in shares of ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after buying an additional 2,339,100 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $186,330,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

In related news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction dated Thursday, February 22nd. The shares were 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 at the SEC website. In related news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction dated Thursday, February 22nd. The shares were 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 at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

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

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

ConocoPhillips Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on COP shares. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler lowered their target price on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. UBS Group lifted their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Raymond James reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Truist Financial reduced their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.59.

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.