Carret Asset Management LLC Lowers Stock Position in ConocoPhillips (NYSE:COP)

Carret Asset Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 16.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,673 shares of the energy producer’s stock after selling 8,750 shares during the period. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $4,331,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC lifted its holdings in shares of ConocoPhillips by 4.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 18,222 shares of the energy producer’s stock valued at $1,918,000 after acquiring an additional 711 shares in the last quarter. Haverford Trust Co lifted its holdings in shares of ConocoPhillips by 5.6% during the 3rd quarter. Haverford Trust Co now owns 29,317 shares of the energy producer’s stock valued at $3,086,000 after acquiring an additional 1,564 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of ConocoPhillips by 18.4% during the 3rd quarter. Plato Investment Management Ltd now owns 26,619 shares of the energy producer’s stock valued at $2,800,000 after acquiring an additional 4,134 shares in the last quarter. Huntington National Bank lifted its holdings in shares of ConocoPhillips by 0.3% during the 3rd quarter. Huntington National Bank now owns 105,082 shares of the energy producer’s stock valued at $11,063,000 after acquiring an additional 329 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of ConocoPhillips by 16.2% during the 3rd quarter. KBC Group NV now owns 390,401 shares of the energy producer’s stock valued at $41,101,000 after acquiring an additional 54,526 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.5 %

COP stock opened at $96.27 on Friday. 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 firm has a market cap of $122.49 billion, a PE ratio of 12.36, a P/E/G 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 has a 50 day simple moving average of $99.26 and a 200 day simple moving average of $103.97.

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%. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insider Transactions at ConocoPhillips

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays reduced their target price 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. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. UBS Group cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial boosted 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. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.05.

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.