ConocoPhillips (NYSE:COP) Shares Purchased by Busey Bank

Busey Bank lifted its stake in ConocoPhillips (NYSE:COP) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,987 shares of the energy producer’s stock after purchasing an additional 970 shares during the period. Busey Bank’s holdings in ConocoPhillips were worth $1,387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. purchased a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on COP shares. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Piper Sandler dropped 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. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Raymond James lifted their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. 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’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Trading Up 0.1 %

NYSE COP opened at $101.49 on Thursday. The company’s fifty day simple moving average is $102.53 and its 200-day simple moving average is $106.90. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a market cap of $116.81 billion, a P/E ratio of 12.07, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. Equities research analysts predict that ConocoPhillips will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling

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

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.