ConocoPhillips (NYSE:COP) Shares Sold by Davis Selected Advisers

Davis Selected Advisers lowered its position in shares of ConocoPhillips (NYSE:COP) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,370,773 shares of the energy producer’s stock after selling 36,789 shares during the quarter. ConocoPhillips comprises about 0.8% of Davis Selected Advisers’ portfolio, making the stock its 27th largest position. Davis Selected Advisers’ holdings in ConocoPhillips were worth $135,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT raised 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 valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. Global Wealth Strategies & Associates boosted its holdings in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $90.70 on Friday. The firm has a market capitalization of $115.40 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The business’s fifty day moving average price is $99.53 and its 200 day moving average price is $104.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Truist Financial boosted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Company 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.