Robertson Stephens Wealth Management LLC Cuts Holdings in ConocoPhillips (NYSE:COP)

Robertson Stephens Wealth Management LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,638 shares of the energy producer’s stock after selling 244 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in ConocoPhillips were worth $658,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of COP. AMF Tjanstepension AB increased its holdings in ConocoPhillips by 4.7% during the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after purchasing an additional 52,334 shares during the period. Brookstone Capital Management boosted its position in shares of ConocoPhillips by 12.7% during the 3rd quarter. Brookstone Capital Management now owns 8,472 shares of the energy producer’s stock worth $892,000 after acquiring an additional 957 shares in the last quarter. CWM LLC boosted its position in shares of ConocoPhillips by 6.4% during the 3rd quarter. CWM LLC now owns 46,650 shares of the energy producer’s stock worth $4,911,000 after acquiring an additional 2,805 shares in the last quarter. Perpetual Ltd boosted its position in shares of ConocoPhillips by 40.1% during the 3rd quarter. Perpetual Ltd now owns 16,097 shares of the energy producer’s stock worth $1,695,000 after acquiring an additional 4,609 shares in the last quarter. Finally, WealthBridge Investment Counsel Inc. boosted its position in shares of ConocoPhillips by 2.1% during the 3rd quarter. WealthBridge Investment Counsel Inc. now owns 28,990 shares of the energy producer’s stock worth $3,052,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Down 1.6 %

ConocoPhillips stock opened at $98.34 on Friday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a 50 day moving average of $101.25 and a two-hundred day moving average of $106.28. 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 stock has a market capitalization of $113.18 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.76 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. As a group, research analysts expect that ConocoPhillips will post 7.64 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.