Vestcor Inc Buys 1,947 Shares of ConocoPhillips (NYSE:COP)

Vestcor Inc grew its stake in shares of ConocoPhillips (NYSE:COP) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,596 shares of the energy producer’s stock after buying an additional 1,947 shares during the period. Vestcor Inc’s holdings in ConocoPhillips were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of COP. Huntington National Bank boosted its position in shares of ConocoPhillips by 0.3% during the third quarter. Huntington National Bank now owns 105,082 shares of the energy producer’s stock worth $11,063,000 after purchasing an additional 329 shares in the last quarter. KBC Group NV raised its stake in ConocoPhillips by 16.2% during the 3rd quarter. KBC Group NV now owns 390,401 shares of the energy producer’s stock worth $41,101,000 after buying an additional 54,526 shares during the period. Oak Harbor Wealth Partners LLC lifted its holdings in ConocoPhillips by 10.8% during the third quarter. Oak Harbor Wealth Partners LLC now owns 2,050 shares of the energy producer’s stock worth $216,000 after acquiring an additional 200 shares in the last quarter. Balboa Wealth Partners acquired a new position in ConocoPhillips in the third quarter valued at about $243,000. Finally, CIBC Asset Management Inc increased its holdings in shares of ConocoPhillips by 4.8% in the third quarter. CIBC Asset Management Inc now owns 262,152 shares of the energy producer’s stock worth $27,599,000 after acquiring an additional 12,024 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on COP. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.05.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $99.10 on Friday. The stock has a market capitalization of $126.09 billion, a PE ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.12. The firm has a fifty day simple moving average of $99.22 and a 200 day simple moving average of $103.87. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.15%. ConocoPhillips’s payout ratio is currently 40.05%.

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.