Wambolt & Associates LLC Cuts Stock Position in ConocoPhillips (NYSE:COP)

Wambolt & Associates LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,094 shares of the energy producer’s stock after selling 4,365 shares during the quarter. Wambolt & Associates LLC’s holdings in ConocoPhillips were worth $2,290,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Orrstown Financial Services Inc. raised its holdings in ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after purchasing an additional 96 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC increased its position in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after buying an additional 102 shares during the period. Courier Capital LLC raised its stake in ConocoPhillips by 0.5% in the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after buying an additional 103 shares in the last quarter. Finally, Gray Wealth Management Inc. lifted its holdings in ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $102.28 on Tuesday. The company has a market cap of $130.14 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12. The business’s fifty day simple moving average is $99.17 and its two-hundred day simple moving average is $103.33. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COP shares. Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Piper Sandler lowered their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.05.

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.