ConocoPhillips $COP Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its position in ConocoPhillips (NYSE:COP) by 18.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,680 shares of the energy producer’s stock after purchasing an additional 5,514 shares during the period. Farther Finance Advisors LLC’s holdings in ConocoPhillips were worth $3,375,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COP. Howard Hughes Medical Institute acquired a new position in shares of ConocoPhillips during the 2nd quarter worth $25,000. Bogart Wealth LLC increased its holdings in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management raised its position in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. BNP Paribas purchased a new stake in shares of ConocoPhillips in the second quarter valued at about $33,000. Finally, Traub Capital Management LLC purchased a new stake in shares of ConocoPhillips in the second quarter valued at about $38,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. The trade was a 60.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on COP shares. Morgan Stanley cut their price objective on ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Piper Sandler reissued an “overweight” rating and set a $115.00 price target on shares of ConocoPhillips in a research report on Monday, November 24th. Roth Capital cut their price target on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Wells Fargo & Company started coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Finally, Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their price objective for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.08.

ConocoPhillips Trading Down 0.9%

NYSE COP opened at $91.85 on Thursday. The company has a market cap of $113.50 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.10 and a beta of 0.32. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $106.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The company has a 50-day moving average of $89.85 and a 200-day moving average of $92.49.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.84 dividend. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. ConocoPhillips’s payout ratio is 47.52%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.