Maple Capital Management Inc. Takes Position in ConocoPhillips (NYSE:COP)

Maple Capital Management Inc. acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,122 shares of the energy producer’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth about $27,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $99.12 on Friday. The company has a 50 day moving average price of $100.19 and a 200-day moving average price of $105.08. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market capitalization of $126.12 billion, a PE ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly 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 predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was acquired 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 approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of 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 position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent analyst reports. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

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.