Tacita Capital Inc Trims Holdings in ConocoPhillips (NYSE:COP)

Tacita Capital Inc cut its holdings in ConocoPhillips (NYSE:COP) by 42.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320 shares of the energy producer’s stock after selling 235 shares during the quarter. Tacita Capital Inc’s holdings in ConocoPhillips were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bedel Financial Consulting Inc. grew its position in shares of ConocoPhillips by 9.9% in the 4th quarter. Bedel Financial Consulting Inc. now owns 3,542 shares of the energy producer’s stock worth $355,000 after buying an additional 318 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of ConocoPhillips by 59.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 118,287 shares of the energy producer’s stock worth $11,730,000 after buying an additional 43,932 shares during the period. Unified Investment Management purchased a new stake in shares of ConocoPhillips in the 4th quarter worth about $613,000. Gryphon Financial Partners LLC grew its position in shares of ConocoPhillips by 34.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 13,657 shares of the energy producer’s stock worth $1,354,000 after buying an additional 3,508 shares during the period. Finally, Meridian Wealth Management LLC grew its position in shares of ConocoPhillips by 46.1% in the 4th quarter. Meridian Wealth Management LLC now owns 5,317 shares of the energy producer’s stock worth $527,000 after buying an additional 1,678 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at approximately $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 Trading Down 6.7 %

ConocoPhillips stock opened at $92.52 on Tuesday. The firm has a 50 day moving average of $100.12 and a 200 day moving average of $104.90. The firm has a market capitalization of $117.72 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 12-month low of $91.56 and a 12-month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its 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%. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COP. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

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.