Planned Solutions Inc. Takes $207,000 Position in ConocoPhillips (NYSE:COP)

Planned Solutions Inc. acquired a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,786 shares of the energy producer’s stock, valued at approximately $207,000.

Other large investors have also made changes to their positions in the company. Norris Perne & French LLP MI lifted its position in shares of ConocoPhillips by 1.9% in the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after buying an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC lifted its position in shares of ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after buying an additional 85 shares in the last quarter. Mascoma Wealth Management LLC lifted its position in shares of ConocoPhillips by 35.9% in the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after buying an additional 88 shares in the last quarter. CRA Financial Services LLC lifted its position in shares of ConocoPhillips by 1.9% in the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock worth $563,000 after buying an additional 89 shares in the last quarter. Finally, KLCM Advisors Inc. lifted its position in shares of ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $126.88 on Thursday. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $127.35. The stock has a fifty day moving average price of $113.49 and a 200-day moving average price of $116.01. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $149.26 billion, a PE ratio of 14.00, a P/E/G ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (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 analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the business posted $2.71 EPS. Equities research analysts predict that ConocoPhillips will post 8.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.46%. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Buying and Selling

In related news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction dated 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 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 through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last 90 days. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Mizuho restated a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Scotiabank upped their price objective on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Piper Sandler cut their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Finally, Susquehanna cut their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating, eleven have issued 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 $135.12.

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.