ConocoPhillips (NYSE:COP) Stake Lessened by Balentine LLC

Balentine LLC trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 24.5% during the fourth quarter, HoldingsChannel reports. The fund owned 4,648 shares of the energy producer’s stock after selling 1,505 shares during the quarter. Balentine LLC’s holdings in ConocoPhillips were worth $461,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in COP. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Albion Financial Group UT raised its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.0 %

NYSE COP opened at $99.39 on Tuesday. The company has a market capitalization of $114.39 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $101.05 and its 200-day simple moving average is $106.11.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Susquehanna increased their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Barclays lowered their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.72.

Insiders Place Their Bets

In other news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction 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 acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.