Addison Advisors LLC Has $266,000 Stake in ConocoPhillips (NYSE:COP)

Addison Advisors LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,680 shares of the energy producer’s stock after selling 246 shares during the period. Addison Advisors LLC’s holdings in ConocoPhillips were worth $266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB grew its stake in shares of ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after buying an additional 52,334 shares during the period. Arkadios Wealth Advisors lifted its position in ConocoPhillips by 5.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 14,766 shares of the energy producer’s stock valued at $1,555,000 after acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC lifted its position in shares of ConocoPhillips by 38.5% during the 3rd quarter. Bristlecone Advisors LLC now owns 7,253 shares of the energy producer’s stock worth $764,000 after buying an additional 2,018 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of ConocoPhillips by 1.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 30,387 shares of the energy producer’s stock worth $3,199,000 after buying an additional 398 shares in the last quarter. Finally, First Financial Bankshares Inc lifted its position in shares of ConocoPhillips by 0.8% during the 3rd quarter. First Financial Bankshares Inc now owns 550,045 shares of the energy producer’s stock worth $57,909,000 after buying an additional 4,603 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on COP. Piper Sandler dropped their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. UBS Group reduced their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred 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 transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following 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 disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $98.82 on Tuesday. 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 firm has a 50-day moving average of $100.09 and a 200-day moving average of $105.36. The firm has a market cap of $125.73 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

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.