ST Germain D J Co. Inc. Has $358,000 Holdings in ConocoPhillips (NYSE:COP)

ST Germain D J Co. Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,608 shares of the energy producer’s stock after purchasing an additional 436 shares during the quarter. ST Germain D J Co. Inc.’s holdings in ConocoPhillips were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its stake in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP raised its stake in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC raised its stake in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after purchasing an additional 924,289 shares in the last quarter. Franklin Resources Inc. raised its stake in ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $101.93 on Friday. The stock has a market capitalization of $117.31 billion, a PE ratio of 12.12, a PEG ratio of 0.83 and a beta of 1.19. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The business’s 50 day simple moving average is $104.39 and its 200 day simple moving average is $107.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last posted 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 firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 EPS. As a group, research analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insiders Place Their Bets

In other news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % 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.

Analysts Set New Price Targets

Several brokerages have commented on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Piper Sandler lowered their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Finally, Scotiabank lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Two research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $136.71.

ConocoPhillips Company 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.