Park Avenue Securities LLC Has $3.97 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Park Avenue Securities LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,077 shares of the energy producer’s stock after selling 3,217 shares during the period. Park Avenue Securities LLC’s holdings in ConocoPhillips were worth $3,974,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of COP. Kathmere Capital Management LLC boosted its position in shares of ConocoPhillips by 20.0% during the fourth quarter. Kathmere Capital Management LLC now owns 3,118 shares of the energy producer’s stock worth $309,000 after buying an additional 519 shares during the period. Assenagon Asset Management S.A. lifted its stake in ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares in the last quarter. SS&H Financial Advisors Inc. boosted its position in ConocoPhillips by 266.1% during the 4th quarter. SS&H Financial Advisors Inc. now owns 10,913 shares of the energy producer’s stock worth $1,083,000 after acquiring an additional 7,932 shares during the last quarter. Peoples Financial Services CORP. boosted its holdings in ConocoPhillips by 43.0% during the fourth quarter. Peoples Financial Services CORP. now owns 2,636 shares of the energy producer’s stock worth $261,000 after purchasing an additional 793 shares during the last quarter. Finally, Crestmont Private Wealth LLC boosted its stake in shares of ConocoPhillips by 62.2% during the 4th quarter. Crestmont Private Wealth LLC now owns 5,563 shares of the energy producer’s stock worth $552,000 after buying an additional 2,134 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Activity

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

ConocoPhillips Stock Up 0.1 %

COP opened at $105.62 on Friday. The stock has a fifty day moving average of $104.05 and a 200-day moving average of $107.54. The company has a market capitalization of $121.56 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.81 and a beta of 1.19. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The business’s revenue was down 8.5% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 7.7 EPS for the current 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 represents a $3.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna upped their price target 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. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. BMO Capital Markets upped their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $136.65.

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.