Legato Capital Management LLC Sells 12,015 Shares of ConocoPhillips (NYSE:COP)

Legato Capital Management LLC lowered its position in ConocoPhillips (NYSE:COP) by 52.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,699 shares of the energy producer’s stock after selling 12,015 shares during the quarter. Legato Capital Management LLC’s holdings in ConocoPhillips were worth $1,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter worth about $26,000. Albion Financial Group UT boosted its position 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 acquiring an additional 228 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter worth approximately $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in ConocoPhillips in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

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

Wall Street Analyst Weigh In

A number of research firms have commented on COP. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $157.00 to $124.00 in a research note on Monday. 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. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Trading Down 3.2 %

NYSE:COP opened at $98.42 on Thursday. The firm has a market capitalization of $113.27 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $100.83 and a 200 day moving average of $105.97. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 net margin of 16.23% and a return on equity of 17.26%. On average, research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.