Nations Financial Group Inc. IA ADV Sells 674 Shares of ConocoPhillips (NYSE:COP)

Nations Financial Group Inc. IA ADV lessened its holdings in ConocoPhillips (NYSE:COP) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 13,880 shares of the energy producer’s stock after selling 674 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in ConocoPhillips were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COP. State Street Corp raised its stake in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP increased its position in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. Fisher Asset Management LLC increased its position in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after buying an additional 3,541,504 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $96.39 on Friday. The business’s 50-day moving average price is $100.44 and its 200-day moving average price is $105.76. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts forecast that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. 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. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Activity

In related news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase 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 business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares of the company’s stock, 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. Insiders own 0.34% of the company’s stock.

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.