Dynamic Advisor Solutions LLC Reduces Holdings in ConocoPhillips (NYSE:COP)

Dynamic Advisor Solutions LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 14.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,809 shares of the energy producer’s stock after selling 2,891 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ConocoPhillips were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Accel Wealth Management raised its holdings in ConocoPhillips by 45.2% in the 4th quarter. Accel Wealth Management now owns 5,358 shares of the energy producer’s stock worth $531,000 after purchasing an additional 1,669 shares during the period. Pflug Koory LLC increased its position in ConocoPhillips by 2.3% in the fourth quarter. Pflug Koory LLC now owns 8,165 shares of the energy producer’s stock worth $810,000 after buying an additional 180 shares in the last quarter. Gradient Investments LLC raised its stake in shares of ConocoPhillips by 17.1% in the fourth quarter. Gradient Investments LLC now owns 236,549 shares of the energy producer’s stock worth $23,459,000 after buying an additional 34,577 shares during the period. Curated Wealth Partners LLC lifted its position in shares of ConocoPhillips by 10.6% during the 4th quarter. Curated Wealth Partners LLC now owns 15,367 shares of the energy producer’s stock valued at $1,524,000 after buying an additional 1,478 shares in the last quarter. Finally, CX Institutional grew its stake in shares of ConocoPhillips by 19.5% during the 4th quarter. CX Institutional now owns 63,992 shares of the energy producer’s stock valued at $6,346,000 after acquiring an additional 10,445 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on COP. Raymond James lifted their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a report on Thursday. Scotiabank lowered 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. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Buy” and a consensus target price of $135.89.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $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. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 2.0 %

Shares of NYSE COP opened at $101.88 on Friday. The stock has a market capitalization of $117.26 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. 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’s 50-day moving average price is $102.98 and its 200-day moving average price is $107.13.

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

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.