Clearbridge Investments LLC Sells 56,974 Shares of ConocoPhillips (NYSE:COP)

Clearbridge Investments LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,762,068 shares of the energy producer’s stock after selling 56,974 shares during the period. Clearbridge Investments LLC owned 0.33% of ConocoPhillips worth $373,084,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in COP. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Barclays lowered their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE:COP opened at $102.37 on Friday. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The stock has a market cap of $130.26 billion, a P/E ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. The business has a fifty day moving average of $98.95 and a two-hundred day moving average of $103.27. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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%. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued 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 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.