TCTC Holdings LLC Acquires 1,355 Shares of ConocoPhillips (NYSE:COP)

TCTC Holdings LLC raised its holdings in ConocoPhillips (NYSE:COP) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,325 shares of the energy producer’s stock after buying an additional 1,355 shares during the quarter. TCTC Holdings LLC’s holdings in ConocoPhillips were worth $22,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Albion Financial Group UT increased its holdings in 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 during the period. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $35,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $36,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $99.10 on Monday. 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 has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a market cap of $126.09 billion, a PE ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.12. The company’s 50-day moving average is $99.22 and its two-hundred day moving average is $103.75.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’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 completion of the transaction, the director now directly owns 21,500 shares in the company, 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. 0.34% of the stock is currently owned by corporate insiders.

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.