MassMutual Private Wealth & Trust FSB Grows Stock Holdings in ConocoPhillips (NYSE:COP)

MassMutual Private Wealth & Trust FSB lifted its position in ConocoPhillips (NYSE:COP) by 8.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,982 shares of the energy producer’s stock after purchasing an additional 4,225 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in ConocoPhillips were worth $5,254,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the third quarter worth approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at $31,000. RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $35,000. Finally, Global Wealth Strategies & Associates raised its position in ConocoPhillips by 80.5% in 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.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. Wells Fargo & Company cut their price target 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. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday. They set a “buy” rating and a $125.00 price target on the stock. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $136.00.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $105.76 on Tuesday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $103.79 and a two-hundred day simple moving average of $107.37.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, 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 owned by corporate insiders.

About ConocoPhillips

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.