King Luther Capital Management Corp Buys 14,154 Shares of ConocoPhillips (NYSE:COP)

King Luther Capital Management Corp increased its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,330,756 shares of the energy producer’s stock after buying an additional 14,154 shares during the period. ConocoPhillips accounts for about 1.0% of King Luther Capital Management Corp’s portfolio, making the stock its 27th largest holding. King Luther Capital Management Corp owned 0.20% of ConocoPhillips worth $231,141,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Citizens Financial Group Inc. RI boosted its holdings in shares of ConocoPhillips by 10.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 80,794 shares of the energy producer’s stock worth $8,012,000 after buying an additional 7,464 shares during the period. Sage Mountain Advisors LLC boosted its holdings in shares of ConocoPhillips by 34.7% during the 4th quarter. Sage Mountain Advisors LLC now owns 9,605 shares of the energy producer’s stock worth $953,000 after buying an additional 2,472 shares during the period. Riverbend Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $299,000. Morton Community Bank raised its stake in ConocoPhillips by 0.4% in the 4th quarter. Morton Community Bank now owns 37,123 shares of the energy producer’s stock worth $3,681,000 after purchasing an additional 145 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its stake in ConocoPhillips by 10.7% in the 4th quarter. Tortoise Investment Management LLC now owns 1,765 shares of the energy producer’s stock worth $175,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $92.60 on Tuesday. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $117.82 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a 50 day simple moving average of $99.44 and a 200 day simple moving average of $104.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Insiders Place Their Bets

In other news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated 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 purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COP. Morgan Stanley began 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. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, UBS Group dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Company 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.