Massachusetts Wealth Management Sells 400 Shares of ConocoPhillips (NYSE:COP)

Massachusetts Wealth Management lowered its position in ConocoPhillips (NYSE:COP) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,508 shares of the energy producer’s stock after selling 400 shares during the quarter. ConocoPhillips comprises 1.8% of Massachusetts Wealth Management’s portfolio, making the stock its 13th biggest position. Massachusetts Wealth Management’s holdings in ConocoPhillips were worth $2,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Country Club Bank grew its holdings in ConocoPhillips by 0.6% during the 4th quarter. Country Club Bank now owns 20,673 shares of the energy producer’s stock worth $2,007,000 after acquiring an additional 125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ConocoPhillips by 25.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,007 shares of the energy producer’s stock worth $19,235,000 after purchasing an additional 42,556 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of ConocoPhillips by 240.4% during the fourth quarter. Y.D. More Investments Ltd now owns 565 shares of the energy producer’s stock valued at $56,000 after purchasing an additional 399 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in shares of ConocoPhillips by 83.3% in the fourth quarter. Spirit of America Management Corp NY now owns 50,604 shares of the energy producer’s stock valued at $5,018,000 after purchasing an additional 23,004 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in ConocoPhillips by 33.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 31,896 shares of the energy producer’s stock worth $3,163,000 after purchasing an additional 7,937 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on COP shares. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Scotiabank reduced their target price 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. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $135.89.

ConocoPhillips Trading Up 2.2 %

Shares of ConocoPhillips stock opened at $100.61 on Wednesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $101.54 and its 200-day moving average is $106.36. The stock has a market cap of $115.80 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.76 and a beta of 1.18.

Insider Buying and Selling at ConocoPhillips

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