ConocoPhillips (NYSE:COP) Stake Lessened by WR Wealth Planners LLC

WR Wealth Planners LLC cut its stake in ConocoPhillips (NYSE:COP) by 6.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,654 shares of the energy producer’s stock after selling 181 shares during the period. WR Wealth Planners LLC’s holdings in ConocoPhillips were worth $263,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. Diversify Wealth Management LLC boosted its holdings in ConocoPhillips by 7.3% during the third quarter. Diversify Wealth Management LLC now owns 3,106 shares of the energy producer’s stock worth $325,000 after buying an additional 212 shares in the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the third quarter worth approximately $31,000. Stephens Inc. AR boosted its holdings in ConocoPhillips by 0.7% during the third quarter. Stephens Inc. AR now owns 60,738 shares of the energy producer’s stock worth $6,395,000 after buying an additional 405 shares in the last quarter. Principal Securities Inc. boosted its holdings in ConocoPhillips by 14.3% during the third quarter. Principal Securities Inc. now owns 30,657 shares of the energy producer’s stock worth $3,228,000 after buying an additional 3,829 shares in the last quarter. Finally, Hills Bank & Trust Co boosted its holdings in ConocoPhillips by 9.0% during the third quarter. Hills Bank & Trust Co now owns 4,970 shares of the energy producer’s stock worth $523,000 after buying an additional 409 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Piper Sandler cut 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, Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Two equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Stock Performance

NYSE:COP opened at $99.12 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm’s fifty day simple moving average is $100.19 and its 200 day simple moving average is $105.06. 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 market capitalization of $126.12 billion, a PE ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.15%. ConocoPhillips’s dividend payout ratio is 40.05%.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, 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. 0.34% of the stock is owned by insiders.

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.