Smartleaf Asset Management LLC Buys 2,284 Shares of ConocoPhillips (NYSE:COP)

Smartleaf Asset Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,235 shares of the energy producer’s stock after acquiring an additional 2,284 shares during the period. Smartleaf Asset Management LLC’s holdings in ConocoPhillips were worth $2,741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Albion Financial Group UT raised its stake in shares of ConocoPhillips by 876.9% during the fourth 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. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Reston Wealth Management LLC bought a new position in ConocoPhillips in the third quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the third quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two investment 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 data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Price Performance

NYSE:COP opened at $99.12 on Friday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. 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 firm has a market cap of $126.12 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. The firm’s fifty day moving average is $100.19 and its two-hundred day moving average is $105.06.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 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.