BI Asset Management Fondsmaeglerselskab A S Increases Stake in ConocoPhillips (NYSE:COP)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 35.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,852 shares of the energy producer's stock after buying an additional 23,067 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in ConocoPhillips were worth $10,313,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC boosted its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer's stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer's stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $34,000. Finally, Spartan Planning & Wealth Management purchased a new stake in ConocoPhillips in the third quarter valued at $40,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $1.88 during midday trading on Friday, reaching $121.71. The company's stock had a trading volume of 4,450,253 shares, compared to its average volume of 5,062,339. The firm has a market capitalization of $142.34 billion, a PE ratio of 13.78, a P/E/G ratio of 2.68 and a beta of 1.25. ConocoPhillips has a fifty-two week low of $98.38 and a fifty-two week high of $135.18. The stock's 50 day simple moving average is $125.79 and its 200 day simple moving average is $117.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, May 10th. ConocoPhillips's dividend payout ratio is currently 26.27%.

Insider Buying and Selling

In other news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. UBS Group upped their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Mizuho raised their price objective on shares of ConocoPhillips from $139.00 to $142.00 and gave the stock a "neutral" rating in a research report on Monday, May 13th. Truist Financial dropped their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, April 29th. Finally, Wells Fargo & Company raised their price target on ConocoPhillips from $149.00 to $151.00 and gave the stock an "overweight" rating in a report on Friday, May 3rd. Five 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $143.24.

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.

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