Welch & Forbes LLC Boosts Stock Position in ConocoPhillips (NYSE:COP)

Welch & Forbes LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,274 shares of the energy producer’s stock after acquiring an additional 1,796 shares during the quarter. Welch & Forbes LLC’s holdings in ConocoPhillips were worth $2,705,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. E Fund Management Co. Ltd. raised its position in ConocoPhillips by 40.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 3,137 shares of the energy producer’s stock valued at $311,000 after purchasing an additional 908 shares in the last quarter. Candriam S.C.A. raised its position in ConocoPhillips by 28.2% during the 4th quarter. Candriam S.C.A. now owns 103,491 shares of the energy producer’s stock valued at $10,263,000 after purchasing an additional 22,773 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in ConocoPhillips during the 4th quarter valued at $514,000. Lindbrook Capital LLC raised its position in ConocoPhillips by 32.9% during the 4th quarter. Lindbrook Capital LLC now owns 7,689 shares of the energy producer’s stock valued at $763,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Washington Trust Advisors Inc. raised its position in ConocoPhillips by 57.7% during the 4th quarter. Washington Trust Advisors Inc. now owns 697 shares of the energy producer’s stock valued at $69,000 after purchasing an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 2.4 %

ConocoPhillips stock opened at $90.70 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The business’s 50-day simple moving average is $99.53 and its two-hundred day simple moving average is $104.38. The company has a market cap of $115.40 billion, a PE ratio of 11.64, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results 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 return on equity of 17.26% and a net margin of 16.23%. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.44%. ConocoPhillips’s payout ratio is 40.05%.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.47.

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.