Bailard Inc. Sells 2,483 Shares of ConocoPhillips (NYSE:COP)

Bailard Inc. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,757 shares of the energy producer’s stock after selling 2,483 shares during the quarter. Bailard Inc.’s holdings in ConocoPhillips were worth $18,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cypress Capital Group boosted its position in shares of ConocoPhillips by 0.5% during 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. raised its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after acquiring an additional 96 shares during the last quarter. Smithfield Trust Co raised its holdings in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after acquiring an additional 100 shares during the last quarter. Principle Wealth Partners LLC raised its holdings in shares of ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares during the last quarter. Finally, Verus Capital Partners LLC raised its holdings in shares of 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. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at $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. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Trading Up 1.8 %

Shares of COP opened at $99.12 on Friday. The business has a 50-day moving average of $100.19 and a 200 day moving average of $105.06. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The firm has a market cap of $126.12 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

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%. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Barclays lowered their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. UBS Group lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

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.