Carret Asset Management LLC Has $6.09 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Carret Asset Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,458 shares of the energy producer’s stock after purchasing an additional 500 shares during the quarter. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $6,089,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth $1,359,000. Community Bank & Trust Waco Texas increased its stake in shares of ConocoPhillips by 94.9% during the 4th quarter. Community Bank & Trust Waco Texas now owns 13,737 shares of the energy producer’s stock worth $1,594,000 after purchasing an additional 6,690 shares during the last quarter. SlateStone Wealth LLC increased its stake in shares of ConocoPhillips by 1.8% during the 4th quarter. SlateStone Wealth LLC now owns 12,502 shares of the energy producer’s stock worth $1,451,000 after purchasing an additional 220 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of ConocoPhillips by 8.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 182,835 shares of the energy producer’s stock worth $21,222,000 after purchasing an additional 15,008 shares during the last quarter. Finally, PDS Planning Inc increased its stake in shares of ConocoPhillips by 10.1% during the 4th quarter. PDS Planning Inc now owns 9,136 shares of the energy producer’s stock worth $1,060,000 after purchasing an additional 838 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Dominic E. Macklon sold 23,372 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total transaction of $2,621,637.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock valued at $87,615,169 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Susquehanna increased their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Raymond James lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.57 during mid-day trading on Wednesday, reaching $129.27. The company had a trading volume of 3,846,568 shares, compared to its average volume of 5,377,396. The company has a 50 day moving average of $121.33 and a 200-day moving average of $117.41. The firm has a market cap of $152.07 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18. 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 quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the firm earned $2.71 EPS. On average, sell-side analysts expect that ConocoPhillips will post 9.47 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

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.