Aries Wealth Management Sells 330 Shares of ConocoPhillips (NYSE:COP)

Aries Wealth Management lowered its stake in shares of ConocoPhillips (NYSE:COP) by 7.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,978 shares of the energy producer’s stock after selling 330 shares during the period. Aries Wealth Management’s holdings in ConocoPhillips were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Price Performance

NYSE:COP opened at $96.90 on Friday. The business’s 50-day simple moving average is $100.73 and its two-hundred day simple moving average is $105.91. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The stock has a market cap of $111.52 billion, a PE ratio of 12.44, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its earnings results 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 return on equity of 17.26% and a net margin of 16.23%. As a group, analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. 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 note on Wednesday. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $133.56.

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.