Bleakley Financial Group LLC Acquires 1,039 Shares of ConocoPhillips (NYSE:COP)

Bleakley Financial Group LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,699 shares of the energy producer’s stock after buying an additional 1,039 shares during the quarter. Bleakley Financial Group LLC’s holdings in ConocoPhillips were worth $3,679,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Meeder Advisory Services Inc. increased its position in ConocoPhillips by 2.4% in the fourth quarter. Meeder Advisory Services Inc. now owns 18,907 shares of the energy producer’s stock worth $2,195,000 after purchasing an additional 441 shares during the period. Alphinity Investment Management Pty Ltd increased its position in ConocoPhillips by 78.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock worth $535,287,000 after purchasing an additional 2,023,263 shares during the period. Peoples Bank OH increased its position in ConocoPhillips by 23.5% in the fourth quarter. Peoples Bank OH now owns 3,544 shares of the energy producer’s stock worth $411,000 after purchasing an additional 674 shares during the period. First Merchants Corp increased its position in ConocoPhillips by 18.0% in the fourth quarter. First Merchants Corp now owns 51,775 shares of the energy producer’s stock worth $6,009,000 after purchasing an additional 7,882 shares during the period. Finally, Bank of Stockton increased its position in ConocoPhillips by 17.6% in the fourth quarter. Bank of Stockton now owns 5,199 shares of the energy producer’s stock worth $561,000 after purchasing an additional 777 shares during the period. 82.36% of the stock is owned by institutional investors.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COP. Mizuho reiterated a “neutral” rating and issued a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Truist Financial decreased their target price on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday. UBS Group boosted their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Scotiabank boosted their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.88.

ConocoPhillips Trading Down 0.8 %

NYSE:COP opened at $132.42 on Tuesday. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $134.02. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $117.21 and a two-hundred day moving average price of $116.49. The company has a market cap of $155.78 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. As a group, analysts expect that ConocoPhillips will post 9.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 25.61%.

ConocoPhillips 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.