Yacktman Asset Management LP Buys 199,710 Shares of ConocoPhillips (NYSE:COP)

Yacktman Asset Management LP increased its stake in shares of ConocoPhillips (NYSE:COP) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,883,942 shares of the energy producer’s stock after acquiring an additional 199,710 shares during the quarter. ConocoPhillips comprises 2.2% of Yacktman Asset Management LP’s investment portfolio, making the stock its 18th biggest position. Yacktman Asset Management LP’s holdings in ConocoPhillips were worth $186,831,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of COP. Cypress Capital Group raised its stake in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. raised its position in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after buying an additional 96 shares in the last quarter. Smithfield Trust Co lifted its holdings in shares of ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after acquiring an additional 100 shares during the period. Principle Wealth Partners LLC boosted its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares in the last quarter. Finally, Asset Dedication LLC increased its stake in ConocoPhillips by 2.5% in the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after acquiring an additional 102 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $99.39 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a fifty day moving average of $101.05 and a 200-day moving average of $106.11. The firm has a market capitalization of $114.39 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost 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 approximately $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % 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 company insiders.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Morgan Stanley started 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. Piper Sandler reduced their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.72.

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.