Orion Portfolio Solutions LLC Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Orion Portfolio Solutions LLC cut its stake in ConocoPhillips (NYSE:COP) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 128,608 shares of the energy producer’s stock after selling 1,633 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ConocoPhillips were worth $12,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% in 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 last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the fourth quarter worth about $27,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the fourth quarter worth about $32,000. Finally, Global Wealth Strategies & Associates boosted its holdings in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Cowen began 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. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Trading Down 0.4 %

NYSE:COP opened at $102.37 on Friday. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a market cap of $130.26 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $98.95 and a 200 day moving average price of $103.28.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.