Ignite Planners LLC Has $1.10 Million Stock Position in ConocoPhillips (NYSE:COP)

Ignite Planners LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,910 shares of the energy producer’s stock after acquiring an additional 909 shares during the quarter. Ignite Planners LLC’s holdings in ConocoPhillips were worth $1,103,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COP. State Street Corp boosted its holdings in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP lifted its position in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. grew its holdings in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price 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 approximately $3,716,400. This 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 company insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $104.29 on Tuesday. The company has a market cap of $120.03 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.83 and a beta of 1.19. The business has a 50 day moving average price of $104.30 and a 200 day moving average price of $107.63. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the business earned $2.16 earnings per share. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Analyst Ratings Changes

A number of analysts recently issued reports on COP shares. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $136.76.

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.