Twin Capital Management Inc. Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Twin Capital Management Inc. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,696 shares of the energy producer’s stock after buying an additional 2,400 shares during the period. Twin Capital Management Inc.’s holdings in ConocoPhillips were worth $4,956,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares during the period. Morgan Stanley boosted its holdings in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in shares of ConocoPhillips during the third quarter worth about $310,102,000. Cowa LLC boosted its holdings in shares of ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $186,330,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COP shares. Truist Financial dropped their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Scotiabank increased their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. UBS Group lifted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler lifted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.00.

ConocoPhillips Stock Down 0.2 %

Shares of COP stock traded down $0.28 during trading hours on Thursday, hitting $128.05. 1,479,813 shares of the company’s stock traded hands, compared to its average volume of 5,423,912. The stock’s fifty day simple moving average is $119.92 and its two-hundred day simple moving average is $117.01. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The stock has a market cap of $150.64 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.77 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period last year, the business earned $2.71 earnings per share. On average, analysts expect that ConocoPhillips will post 9.35 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 in the last three months. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.