ConocoPhillips $COP Shares Bought by Vest Financial LLC

Vest Financial LLC lifted its stake in ConocoPhillips (NYSE:COP) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,309 shares of the energy producer’s stock after buying an additional 5,443 shares during the period. Vest Financial LLC’s holdings in ConocoPhillips were worth $2,678,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Navalign LLC grew its position in ConocoPhillips by 1.1% in the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after acquiring an additional 108 shares in the last quarter. Greenfield Savings Bank boosted its stake in shares of ConocoPhillips by 1.2% in the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after purchasing an additional 108 shares during the period. Tritonpoint Wealth LLC grew its holdings in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank grew its holdings in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares in the last quarter. Finally, Perennial Investment Advisors LLC increased its stake in ConocoPhillips by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after buying an additional 112 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $96.81 on Friday. The company has a market cap of $119.63 billion, a PE ratio of 13.69, a P/E/G ratio of 2.87 and a beta of 0.32. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $106.20. The firm has a 50-day simple moving average of $93.26 and a 200 day simple moving average of $92.99. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Increases Dividend

The business also recently disclosed 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 yield of 3.5%. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COP shares. Susquehanna decreased their price objective on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Piper Sandler reduced their price target on ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company began coverage on ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $98.00 target price on shares of ConocoPhillips in a research report on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $111.00.

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.