Summit Place Financial Advisors LLC Sells 209 Shares of ConocoPhillips (NYSE:COP)

Summit Place Financial Advisors LLC decreased its stake in ConocoPhillips (NYSE:COP) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,750 shares of the energy producer’s stock after selling 209 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in ConocoPhillips were worth $1,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Solutions LLC purchased a new position in ConocoPhillips during the 4th quarter valued at $271,000. Werba Rubin Papier Wealth Management lifted its holdings in shares of ConocoPhillips by 4.3% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 3,949 shares of the energy producer’s stock worth $392,000 after buying an additional 164 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of ConocoPhillips by 11.4% in the 4th quarter. Global Retirement Partners LLC now owns 9,580 shares of the energy producer’s stock worth $950,000 after buying an additional 981 shares during the period. Bank of Jackson Hole Trust purchased a new stake in shares of ConocoPhillips in the 4th quarter worth $165,000. Finally, New York State Common Retirement Fund raised its position in shares of ConocoPhillips by 7.7% in the 4th quarter. New York State Common Retirement Fund now owns 2,234,124 shares of the energy producer’s stock worth $221,558,000 after acquiring an additional 158,973 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’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 purchase, 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.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Raymond James lowered 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 research report on Monday, February 10th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.56.

ConocoPhillips Trading Up 1.1 %

Shares of NYSE:COP opened at $97.35 on Wednesday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company’s 50 day moving average is $100.20 and its two-hundred day moving average is $105.55. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $112.04 billion, a PE ratio of 12.50, a P/E/G ratio of 0.75 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 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%. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.20%. 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.