ConocoPhillips (NYSE:COP) Shares Bought by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC lifted its position in ConocoPhillips (NYSE:COP) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,766 shares of the energy producer’s stock after acquiring an additional 1,353 shares during the quarter. Hartford Funds Management Co LLC’s holdings in ConocoPhillips were worth $1,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Chatham Capital Group Inc. boosted its position in ConocoPhillips by 3.2% during the 4th quarter. Chatham Capital Group Inc. now owns 12,981 shares of the energy producer’s stock valued at $1,287,000 after purchasing an additional 406 shares during the period. Welch & Forbes LLC boosted its position in ConocoPhillips by 7.0% during the 4th quarter. Welch & Forbes LLC now owns 27,274 shares of the energy producer’s stock valued at $2,705,000 after purchasing an additional 1,796 shares during the period. E Fund Management Co. Ltd. boosted 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 during the period. Candriam S.C.A. boosted 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 during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new position in ConocoPhillips during the 4th quarter valued at approximately $514,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction 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. The trade was a 13.16 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.4 %

COP opened at $88.56 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 company has a market capitalization of $112.69 billion, a PE ratio of 11.37, a P/E/G ratio of 0.79 and a beta of 1.12. The stock’s fifty day moving average is $99.66 and its 200-day moving average is $104.53. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.