ConocoPhillips (NYSE:COP) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 62.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 870 shares of the energy producer’s stock after selling 1,435 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ConocoPhillips were worth $86,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates lifted its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two research 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 currently has an average rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Trading Down 0.5 %

COP opened at $96.39 on Tuesday. The stock has a market capitalization of $110.93 billion, a PE ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The business’s 50 day moving average price is $100.44 and its 200 day moving average price is $105.69.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % 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.

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.