ConocoPhillips (NYSE:COP) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,848 shares of the energy producer’s stock after selling 949 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in ConocoPhillips were worth $2,266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cypress Capital Group boosted its stake in ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. lifted its stake in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares during the period. Smithfield Trust Co grew its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the last quarter. Asset Dedication LLC increased its position in shares of ConocoPhillips by 2.5% in the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after acquiring an additional 102 shares during the period. Finally, Verus Capital Partners LLC raised its stake in ConocoPhillips by 2.0% in the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after acquiring an additional 102 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

ConocoPhillips Trading Down 1.6 %

Shares of ConocoPhillips stock opened at $98.34 on Monday. 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 has a twelve month low of $94.23 and a twelve month high of $135.18. The firm has a market capitalization of $113.18 billion, a PE ratio of 12.62, a P/E/G ratio of 0.77 and a beta of 1.18. The firm’s 50-day moving average price is $101.05 and its 200 day moving average price is $106.15.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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%. On average, sell-side analysts predict that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. 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. Wells Fargo & Company dropped their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Susquehanna upped their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $135.89.

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.