Holderness Investments Co. Sells 303 Shares of ConocoPhillips (NYSE:COP)

Holderness Investments Co. decreased its stake in ConocoPhillips (NYSE:COP) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,016 shares of the energy producer’s stock after selling 303 shares during the period. Holderness Investments Co.’s holdings in ConocoPhillips were worth $894,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in COP. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the fourth quarter worth about $27,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Global Wealth Strategies & Associates increased its stake in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $35,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Barclays reduced their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Truist Financial lifted their target price 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. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two 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 company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Price Performance

COP stock opened at $102.25 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. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The stock has a market cap of $130.09 billion, a PE ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12. The firm has a 50 day simple moving average of $99.21 and a two-hundred day simple moving average of $103.53.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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, analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. ConocoPhillips’s payout ratio 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.