ConocoPhillips (NYSE:COP) Shares Sold by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY cut its stake in ConocoPhillips (NYSE:COP) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,475 shares of the energy producer’s stock after selling 156 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in ConocoPhillips were worth $345,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its stake in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. raised its position in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after buying an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Barclays reduced their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was 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 Trading Up 1.8 %

COP opened at $99.12 on Friday. The business has a fifty day moving average price of $100.19 and a 200 day moving average price of $105.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a market capitalization of $126.12 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 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 earnings per share (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%. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

ConocoPhillips 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.