ConocoPhillips (NYSE:COP) Holdings Boosted by Conning Inc.

Conning Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,411 shares of the energy producer’s stock after purchasing an additional 14,318 shares during the period. ConocoPhillips makes up 1.3% of Conning Inc.’s portfolio, making the stock its 26th biggest position. Conning Inc.’s holdings in ConocoPhillips were worth $36,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of COP. Tidal Investments LLC lifted its position in ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares in the last quarter. Brookstone Capital Management increased its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after acquiring an additional 383 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after purchasing an additional 46,621 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.6 %

Shares of COP stock opened at $98.34 on Friday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $113.18 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The stock has a 50 day moving average of $101.25 and a 200-day moving average of $106.28.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities analysts predict that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Buying and Selling

In other news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased 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 directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Susquehanna raised their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Raymond James lifted their price objective on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company 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.