11,181 ConocoPhillips $COP Shares Acquired by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. raised its stake in ConocoPhillips (NYSE:COP) by 425.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,809 shares of the energy producer’s stock after acquiring an additional 11,181 shares during the period. Retirement Planning Co of New England Inc.’s holdings in ConocoPhillips were worth $1,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Patten Group Inc. raised its position in ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares during the period. IFC Advisors LLC lifted its stake in shares of ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after purchasing an additional 84 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after buying an additional 88 shares during the period. Blue Trust Inc. boosted its position in shares of ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after buying an additional 92 shares during the period. Finally, Sigma Planning Corp boosted its position in shares of ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after buying an additional 94 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Stifel Nicolaus began coverage on ConocoPhillips in a report on Thursday, September 10th. They set a “hold” rating and a $148.00 target price on the stock. Truist Financial increased their price objective on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research report on Wednesday, October 7th. Seaport Research Partners started coverage on shares of ConocoPhillips in a research note on Thursday, September 3rd. They set a “neutral” rating on the stock. Weiss Ratings raised shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Finally, Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.62.

ConocoPhillips Stock Performance

COP traded down $0.28 during trading hours on Thursday, hitting $142.06. 2,688,820 shares of the stock were exchanged, compared to its average volume of 8,046,035. The stock has a market cap of $170.66 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.24. The stock has a 50-day simple moving average of $131.03 and a 200-day simple moving average of $122.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $143.13.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. Analysts anticipate that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.4%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.