Marco Investment Management LLC Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Marco Investment Management LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 14.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 121,730 shares of the energy producer’s stock after selling 20,538 shares during the quarter. Marco Investment Management LLC’s holdings in ConocoPhillips were worth $12,072,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. West Family Investments Inc. grew its stake in shares of ConocoPhillips by 10.9% in the fourth quarter. West Family Investments Inc. now owns 3,881 shares of the energy producer’s stock worth $385,000 after acquiring an additional 383 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of ConocoPhillips by 200.1% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 31,734 shares of the energy producer’s stock valued at $3,147,000 after buying an additional 21,158 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $357,000. Callan Family Office LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $2,111,000. Finally, EagleClaw Capital Managment LLC increased its stake in shares of ConocoPhillips by 7.2% during the fourth quarter. EagleClaw Capital Managment LLC now owns 22,287 shares of the energy producer’s stock worth $2,210,000 after acquiring an additional 1,502 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE:COP opened at $88.56 on Friday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a 50 day moving average of $99.66 and a 200-day moving average of $104.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $112.69 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.52%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Company 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.