ConocoPhillips (NYSE:COP) Shares Sold by M. Kraus & Co

M. Kraus & Co cut its holdings in shares of ConocoPhillips (NYSE:COP) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,873 shares of the energy producer’s stock after selling 181 shares during the period. M. Kraus & Co’s holdings in ConocoPhillips were worth $1,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in ConocoPhillips by 6.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,654 shares of the energy producer’s stock worth $362,000 after purchasing an additional 218 shares during the last quarter. Kathmere Capital Management LLC grew its position in shares of ConocoPhillips by 20.0% during the fourth quarter. Kathmere Capital Management LLC now owns 3,118 shares of the energy producer’s stock worth $309,000 after buying an additional 519 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after buying an additional 3,541,504 shares during the last quarter. SS&H Financial Advisors Inc. raised its holdings in ConocoPhillips by 266.1% in the fourth quarter. SS&H Financial Advisors Inc. now owns 10,913 shares of the energy producer’s stock valued at $1,083,000 after acquiring an additional 7,932 shares in the last quarter. Finally, Peoples Financial Services CORP. boosted its stake in ConocoPhillips by 43.0% during the 4th quarter. Peoples Financial Services CORP. now owns 2,636 shares of the energy producer’s stock valued at $261,000 after acquiring an additional 793 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped 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. UBS Group reduced their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $136.65.

ConocoPhillips Stock Performance

Shares of COP stock opened at $104.83 on Wednesday. The business has a 50 day simple moving average of $104.21 and a 200 day simple moving average of $107.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $120.65 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insider Activity

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

ConocoPhillips 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.