First National Advisers LLC Buys 2,062 Shares of ConocoPhillips (NYSE:COP)

First National Advisers LLC increased its stake in ConocoPhillips (NYSE:COP) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,017 shares of the energy producer’s stock after acquiring an additional 2,062 shares during the quarter. First National Advisers LLC’s holdings in ConocoPhillips were worth $2,183,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of COP. State Street Corp increased its stake in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its position in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC grew its position in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Pacer Advisors Inc. grew its position in ConocoPhillips by 5,422.3% in the 3rd 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 during the period. Finally, Assenagon Asset Management S.A. grew its position in ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on COP. 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. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler cut their price objective 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, Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Two research 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 stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $99.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $126.09 billion, a PE ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The company has a 50-day moving average price of $99.22 and a two-hundred day moving average price of $103.81.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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 forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

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.