ConocoPhillips (NYSE:COP) Shares Bought by Morton Community Bank

Morton Community Bank grew its stake in shares of ConocoPhillips (NYSE:COP) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,123 shares of the energy producer’s stock after acquiring an additional 145 shares during the period. Morton Community Bank’s holdings in ConocoPhillips were worth $3,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tortoise Investment Management LLC lifted its position in shares of ConocoPhillips by 10.7% during the 4th quarter. Tortoise Investment Management LLC now owns 1,765 shares of the energy producer’s stock valued at $175,000 after acquiring an additional 171 shares during the period. Independent Advisor Alliance increased its stake in shares of ConocoPhillips by 0.8% during the 4th quarter. Independent Advisor Alliance now owns 91,660 shares of the energy producer’s stock worth $9,090,000 after purchasing an additional 735 shares in the last quarter. Paragon Private Wealth Management LLC increased its stake in shares of ConocoPhillips by 10.4% during the 4th quarter. Paragon Private Wealth Management LLC now owns 2,744 shares of the energy producer’s stock worth $272,000 after purchasing an additional 258 shares in the last quarter. Meriwether Wealth & Planning LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $900,000. Finally, Johnson Investment Counsel Inc. increased its stake in shares of ConocoPhillips by 28.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 50,956 shares of the energy producer’s stock worth $5,053,000 after purchasing an additional 11,234 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Finally, Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Price Performance

COP opened at $90.70 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a 50-day moving average of $99.53 and a 200-day moving average of $104.31. The company has a market capitalization of $115.40 billion, a P/E ratio of 11.64, a PEG ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Announces Dividend

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

Insider Activity at ConocoPhillips

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