Net Worth Advisory Group Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Net Worth Advisory Group decreased its position in shares of ConocoPhillips (NYSE:COP) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,914 shares of the energy producer’s stock after selling 1,602 shares during the quarter. Net Worth Advisory Group’s holdings in ConocoPhillips were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COP. Riverbend Wealth Management LLC bought a new position in ConocoPhillips during the fourth quarter valued at approximately $299,000. Morton Community Bank lifted its position in ConocoPhillips by 0.4% during the fourth quarter. Morton Community Bank now owns 37,123 shares of the energy producer’s stock valued at $3,681,000 after purchasing an additional 145 shares during the period. Tortoise Investment Management LLC lifted its position in ConocoPhillips by 10.7% during the fourth quarter. Tortoise Investment Management LLC now owns 1,765 shares of the energy producer’s stock valued at $175,000 after purchasing an additional 171 shares during the period. Independent Advisor Alliance lifted its position in ConocoPhillips by 0.8% during the fourth quarter. Independent Advisor Alliance now owns 91,660 shares of the energy producer’s stock valued at $9,090,000 after purchasing an additional 735 shares during the period. Finally, Paragon Private Wealth Management LLC lifted its position in ConocoPhillips by 10.4% during the fourth quarter. Paragon Private Wealth Management LLC now owns 2,744 shares of the energy producer’s stock valued at $272,000 after purchasing an additional 258 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the 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 transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R A. Walker acquired 10,400 shares of the 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 transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price objective 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. Truist Financial increased their price objective 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. Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. 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 analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $92.60 on Tuesday. The company has a market capitalization of $117.82 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The firm’s 50-day moving average is $99.44 and its 200 day moving average is $104.18. 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 issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Research analysts predict that ConocoPhillips will post 8.16 EPS 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 given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.37%. ConocoPhillips’s dividend payout ratio (DPR) is 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.