Chevy Chase Trust Holdings LLC Acquires 54,440 Shares of ConocoPhillips (NYSE:COP)

Chevy Chase Trust Holdings LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 746,965 shares of the energy producer’s stock after acquiring an additional 54,440 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of ConocoPhillips worth $74,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in COP. State Street Corp increased its stake in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after acquiring an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 purchasing an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Stock Down 1.5 %

Shares of NYSE:COP opened at $96.90 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The firm has a market capitalization of $111.52 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.77 and a beta of 1.18. The stock has a 50 day moving average price of $100.73 and a 200-day moving average price of $105.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COP. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday. Susquehanna increased their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.56.

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.