ConocoPhillips (NYSE:COP) Stock Position Reduced by 1834 Investment Advisors Co.

1834 Investment Advisors Co. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,872 shares of the energy producer’s stock after selling 295 shares during the period. 1834 Investment Advisors Co.’s holdings in ConocoPhillips were worth $781,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $26,000. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the third quarter worth $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter worth $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have recently issued reports on COP shares. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays raised their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $101.88 on Friday. The firm has a market cap of $117.26 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. The firm’s 50-day simple moving average is $102.98 and its 200-day simple moving average is $107.13. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.