Berkshire Bank Has $329,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Berkshire Bank grew its stake in shares of ConocoPhillips (NYSE:COP) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,317 shares of the energy producer’s stock after purchasing an additional 286 shares during the period. Berkshire Bank’s holdings in ConocoPhillips were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the third quarter worth about $26,000. Albion Financial Group UT lifted its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price 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 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. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $102.73 on Tuesday. The business’s 50-day simple moving average is $102.98 and its 200-day simple moving average is $107.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a market cap of $118.23 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company 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%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.16 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.04%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company decreased their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Raymond James raised their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Buy” and an average price target of $135.89.

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.