ConocoPhillips (NYSE:COP) Position Increased by Brookstone Capital Management

Brookstone Capital Management grew its position in ConocoPhillips (NYSE:COPFree Report) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,855 shares of the energy producer’s stock after purchasing an additional 383 shares during the period. Brookstone Capital Management’s holdings in ConocoPhillips were worth $878,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Edgestream Partners L.P. grew its position in ConocoPhillips by 444.8% in the second quarter. Edgestream Partners L.P. now owns 13,484 shares of the energy producer’s stock worth $1,542,000 after acquiring an additional 11,009 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in ConocoPhillips by 3.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 292,282 shares of the energy producer’s stock worth $33,425,000 after purchasing an additional 10,032 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in ConocoPhillips by 7.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 43,036 shares of the energy producer’s stock valued at $4,922,000 after buying an additional 3,013 shares in the last quarter. Garner Asset Management Corp lifted its position in shares of ConocoPhillips by 25.1% in the second quarter. Garner Asset Management Corp now owns 17,710 shares of the energy producer’s stock worth $2,026,000 after buying an additional 3,548 shares during the last quarter. Finally, MRP Capital Investments LLC boosted its stake in shares of ConocoPhillips by 4.3% during the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock worth $278,000 after acquiring an additional 100 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $136.65.

Check Out Our Latest Research Report on COP

ConocoPhillips Price Performance

NYSE:COP opened at $105.62 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a 50-day moving average of $104.05 and a 200-day moving average of $107.54. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a market capitalization of $121.56 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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