ARS Wealth Advisors Group LLC Sells 535 Shares of ConocoPhillips (NYSE:COP)

ARS Wealth Advisors Group LLC lowered its position in ConocoPhillips (NYSE:COP) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,906 shares of the energy producer’s stock after selling 535 shares during the period. ARS Wealth Advisors Group LLC’s holdings in ConocoPhillips were worth $221,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of ConocoPhillips by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after purchasing an additional 204,714 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of ConocoPhillips by 1.1% in the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after purchasing an additional 74,278 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ConocoPhillips by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock worth $775,416,000 after buying an additional 33,466 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $0.02 during mid-day trading on Friday, reaching $122.23. The company had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. ConocoPhillips has a one year low of $95.81 and a one year high of $135.18. The business’s 50-day simple moving average is $123.85 and its 200 day simple moving average is $117.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.35. The firm has a market cap of $143.79 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the firm posted $2.71 earnings per share. On average, research analysts predict that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Raymond James reduced their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho reaffirmed a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Piper Sandler increased their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Truist Financial lowered their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.76.

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.