ConocoPhillips (NYSE:COP) Shares Acquired by Carret Asset Management LLC

Carret Asset Management LLC increased its stake in ConocoPhillips (NYSE:COP) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,458 shares of the energy producer’s stock after acquiring an additional 500 shares during the period. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $6,089,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in ConocoPhillips in the fourth quarter valued at $1,359,000. Community Bank & Trust Waco Texas increased its holdings in ConocoPhillips by 94.9% in the fourth quarter. Community Bank & Trust Waco Texas now owns 13,737 shares of the energy producer’s stock valued at $1,594,000 after buying an additional 6,690 shares during the last quarter. SlateStone Wealth LLC increased its holdings in ConocoPhillips by 1.8% in the fourth quarter. SlateStone Wealth LLC now owns 12,502 shares of the energy producer’s stock valued at $1,451,000 after buying an additional 220 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of ConocoPhillips by 8.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 182,835 shares of the energy producer’s stock worth $21,222,000 after purchasing an additional 15,008 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in shares of ConocoPhillips by 10.1% during the fourth quarter. PDS Planning Inc now owns 9,136 shares of the energy producer’s stock worth $1,060,000 after purchasing an additional 838 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COP. Raymond James dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial dropped their price objective on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Barclays began coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Piper Sandler raised their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Scotiabank raised their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.57 during mid-day trading on Wednesday, reaching $129.27. The stock had a trading volume of 3,846,568 shares, compared to its average volume of 5,377,396. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The firm has a market capitalization of $152.07 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The business has a 50 day simple moving average of $121.33 and a 200 day simple moving average of $117.41.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter last year, the firm earned $2.71 earnings per share. On average, analysts expect that ConocoPhillips will post 9.47 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

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

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.