Mitchell Capital Management Co. Has $4.96 Million Holdings in ConocoPhillips (NYSE:COP)

Mitchell Capital Management Co. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 13.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,032 shares of the energy producer’s stock after selling 7,588 shares during the quarter. Mitchell Capital Management Co.’s holdings in ConocoPhillips were worth $4,962,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT boosted its position in ConocoPhillips by 876.9% during the 4th 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 acquired a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth about $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $99.12 on Friday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a market capitalization of $126.12 billion, a PE ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. The business’s 50 day moving average is $100.19 and its 200-day moving average is $105.06. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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 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%. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COP shares. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research note on Thursday, January 30th. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Two 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the firm’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 purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

About ConocoPhillips

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.