Commerce Bank Has $55.77 Million Stock Position in ConocoPhillips (NYSE:COP)

Commerce Bank lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 260.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 480,518 shares of the energy producer’s stock after purchasing an additional 347,250 shares during the period. Commerce Bank’s holdings in ConocoPhillips were worth $55,774,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of ConocoPhillips by 35.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,776 shares of the energy producer’s stock worth $206,000 after purchasing an additional 464 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $34,000. Sand Hill Global Advisors LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $230,000. Ontario Teachers Pension Plan Board lifted its holdings in shares of ConocoPhillips by 22.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 54,085 shares of the energy producer’s stock worth $6,278,000 after purchasing an additional 9,882 shares during the period. Finally, Delta Asset Management LLC TN lifted its holdings in shares of ConocoPhillips by 17.1% during the fourth quarter. Delta Asset Management LLC TN now owns 2,054 shares of the energy producer’s stock worth $238,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE:COP traded down $0.64 during midday trading on Thursday, hitting $117.55. 1,848,882 shares of the company’s stock were exchanged, compared to its average volume of 5,264,764. 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 stock has a 50 day moving average price of $126.02 and a 200-day moving average price of $117.74. The company has a market cap of $137.48 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. ConocoPhillips has a 12 month low of $98.38 and a 12 month high of $135.18.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Scotiabank boosted their target price 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. Piper Sandler boosted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, UBS Group boosted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.24.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’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 of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’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 transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 664,350 shares of company stock valued at $83,537,680 over the last three months. Corporate insiders own 0.34% of the company’s stock.

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.