Franklin Resources Inc. Buys 6,415 Shares of ConocoPhillips (NYSE:COP)

Franklin Resources Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,091,462 shares of the energy producer’s stock after acquiring an additional 6,415 shares during the period. Franklin Resources Inc. owned approximately 0.18% of ConocoPhillips worth $242,756,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC lifted its position in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC acquired a new position in ConocoPhillips during the fourth quarter worth $27,000. Oliver Lagore Vanvalin Investment Group increased its holdings in ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in ConocoPhillips during the fourth quarter worth $34,000. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays began coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price on the stock. Truist Financial dropped their target price on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a report on Monday, April 29th. Scotiabank raised their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Raymond James decreased their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, UBS Group increased their target price 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. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

NYSE:COP traded down $2.15 on Wednesday, reaching $118.26. 1,165,252 shares of the company’s stock were exchanged, compared to its average volume of 5,266,128. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market cap of $138.31 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.66 and a beta of 1.25. ConocoPhillips has a 52 week low of $98.38 and a 52 week high of $135.18. The stock has a fifty day simple moving average of $126.01 and a 200-day simple moving average of $117.74.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.64%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 672,855 shares of company stock worth $84,490,750 over the last quarter. 0.34% of the stock is owned by corporate insiders.

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.