Sippican Capital Advisors Sells 130 Shares of ConocoPhillips (NYSE:COP)

Sippican Capital Advisors reduced its position in shares of ConocoPhillips (NYSE:COP) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,298 shares of the energy producer’s stock after selling 130 shares during the period. Sippican Capital Advisors’ holdings in ConocoPhillips were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sentry LLC raised its position in ConocoPhillips by 88.8% during the 4th quarter. Sentry LLC now owns 7,482 shares of the energy producer’s stock worth $742,000 after purchasing an additional 3,519 shares during the last quarter. Busey Bank grew its holdings in ConocoPhillips by 7.5% during the 4th quarter. Busey Bank now owns 13,987 shares of the energy producer’s stock worth $1,387,000 after acquiring an additional 970 shares during the period. Synergy Asset Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth about $56,000. Gries Financial LLC lifted its stake in shares of ConocoPhillips by 5.5% in the 4th quarter. Gries Financial LLC now owns 7,924 shares of the energy producer’s stock valued at $786,000 after purchasing an additional 413 shares during the period. Finally, Hanson & Doremus Investment Management grew its stake in ConocoPhillips by 12.8% during the fourth quarter. Hanson & Doremus Investment Management now owns 7,937 shares of the energy producer’s stock worth $787,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $101.49 on Thursday. ConocoPhillips has a 1-year low of $94.23 and a 1-year 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 stock has a fifty day simple moving average of $102.53 and a two-hundred day simple moving average of $106.90. The firm has a market cap of $116.81 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COP shares. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $135.89.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.