ConocoPhillips (NYSE:COP) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 46.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,917 shares of the energy producer’s stock after selling 2,563 shares during the quarter. Royal Fund Management LLC’s holdings in ConocoPhillips were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COP. Reliant Investment Management LLC increased its position in shares of ConocoPhillips by 2.4% during the fourth quarter. Reliant Investment Management LLC now owns 55,121 shares of the energy producer’s stock worth $5,466,000 after purchasing an additional 1,270 shares in the last quarter. Ballentine Partners LLC increased its position in ConocoPhillips by 24.0% during the fourth quarter. Ballentine Partners LLC now owns 17,289 shares of the energy producer’s stock worth $1,715,000 after buying an additional 3,344 shares during the period. ZWJ Investment Counsel Inc. boosted its holdings in shares of ConocoPhillips by 9.2% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 6,805 shares of the energy producer’s stock valued at $675,000 after acquiring an additional 573 shares during the period. Regent Peak Wealth Advisors LLC purchased a new position in ConocoPhillips during the 4th quarter worth $201,000. Finally, New Hampshire Trust boosted its stake in shares of ConocoPhillips by 0.9% during the fourth quarter. New Hampshire Trust now owns 27,422 shares of the energy producer’s stock worth $2,719,000 after buying an additional 257 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $104.25 on Wednesday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market capitalization of $119.98 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $103.67 and a two-hundred day moving average price of $107.31.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. As a group, research analysts expect that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Ratings Changes

A number of research firms have weighed in on COP. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $136.00.

Insider Buying and Selling

In other news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company 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.