R A. Walker Acquires 10,400 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ConocoPhillips Stock Down 2.5 %

Shares of NYSE:COP traded down $2.41 during trading on Wednesday, hitting $95.85. 8,461,545 shares of the company were exchanged, compared to its average volume of 6,047,130. The firm’s 50 day moving average price is $107.21 and its 200-day moving average price is $109.41. ConocoPhillips has a 12-month low of $95.75 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market capitalization of $110.31 billion, a P/E ratio of 11.40, a PEG ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. On average, research analysts predict that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Susquehanna raised their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday. They issued an “overweight” rating and a $128.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Truist Financial decreased their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, UBS Group cut their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $139.24.

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.