ConocoPhillips (NYSE:COP) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P grew its holdings in ConocoPhillips (NYSE:COPGet Rating) by 11.1% during the 2nd quarter, Holdings Channel reports. The firm owned 2,426 shares of the energy producer’s stock after buying an additional 243 shares during the period. Martingale Asset Management L P’s holdings in ConocoPhillips were worth $218,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COP. IFM Investors Pty Ltd grew its position in shares of ConocoPhillips by 16.9% in the first quarter. IFM Investors Pty Ltd now owns 209,462 shares of the energy producer’s stock valued at $20,946,000 after purchasing an additional 30,219 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in ConocoPhillips by 192.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,977 shares of the energy producer’s stock worth $898,000 after acquiring an additional 5,911 shares during the last quarter. Banque Pictet & Cie SA acquired a new stake in ConocoPhillips during the first quarter worth approximately $600,000. Commonwealth Equity Services LLC boosted its position in ConocoPhillips by 2.0% during the first quarter. Commonwealth Equity Services LLC now owns 336,274 shares of the energy producer’s stock worth $33,627,000 after acquiring an additional 6,623 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in ConocoPhillips by 79.9% during the first quarter. Clearstead Advisors LLC now owns 3,259 shares of the energy producer’s stock worth $326,000 after acquiring an additional 1,447 shares during the last quarter. 79.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $126.74 on Thursday. The company has a market capitalization of $157.93 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 0.47 and a beta of 1.32. The firm’s 50 day simple moving average is $120.33 and its 200 day simple moving average is $107.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.46 and a quick ratio of 1.37. ConocoPhillips has a fifty-two week low of $66.06 and a fifty-two week high of $138.49.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Tuesday, December 27th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.61%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 23rd. ConocoPhillips’s dividend payout ratio is presently 14.70%.

Analysts Set New Price Targets

A number of analysts recently issued reports on COP shares. Piper Sandler raised their target price on shares of ConocoPhillips from $133.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. Bank of America raised their target price on shares of ConocoPhillips from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Morgan Stanley raised their target price on shares of ConocoPhillips from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 19th. MKM Partners raised their price objective on shares of ConocoPhillips from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Finally, Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.76.

ConocoPhillips Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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