Patriot Financial Group Insurance Agency LLC Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 24.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,063 shares of the energy producer’s stock after purchasing an additional 3,905 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in ConocoPhillips were worth $1,990,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. Albion Financial Group UT boosted its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $102.50 on Tuesday. The company has a market capitalization of $117.97 billion, a P/E ratio of 12.23, a PEG ratio of 0.86 and a beta of 1.19. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The business has a 50 day simple moving average of $102.98 and a 200-day simple moving average of $107.06. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.04%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Buying and Selling

In related news, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now 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.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Raymond James lifted their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Buy” and an average target price of $135.89.

ConocoPhillips Profile

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.