Cypress Wealth Services LLC Sells 518 Shares of ConocoPhillips (NYSE:COP)

Cypress Wealth Services LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 19.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,093 shares of the energy producer’s stock after selling 518 shares during the period. Cypress Wealth Services LLC’s holdings in ConocoPhillips were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. grew its holdings in ConocoPhillips by 444.8% during the 2nd quarter. Edgestream Partners L.P. now owns 13,484 shares of the energy producer’s stock valued at $1,542,000 after buying an additional 11,009 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of ConocoPhillips by 168.3% in the second quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer’s stock valued at $1,446,000 after purchasing an additional 7,928 shares in the last quarter. ProVise Management Group LLC grew its holdings in shares of ConocoPhillips by 10.2% in the second quarter. ProVise Management Group LLC now owns 50,288 shares of the energy producer’s stock valued at $5,752,000 after purchasing an additional 4,655 shares in the last quarter. Intech Investment Management LLC raised its stake in ConocoPhillips by 72.3% during the second quarter. Intech Investment Management LLC now owns 111,852 shares of the energy producer’s stock valued at $12,794,000 after purchasing an additional 46,942 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in ConocoPhillips by 9.3% during the second quarter. Brighton Jones LLC now owns 14,990 shares of the energy producer’s stock valued at $1,715,000 after purchasing an additional 1,275 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity

In related news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was 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 Stock Performance

ConocoPhillips stock opened at $105.76 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $121.72 billion, a PE ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a 50 day moving average price of $103.91 and a 200-day moving average price of $107.53. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The business 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 business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 EPS. As a group, equities analysts forecast that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COP. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday. They set a “buy” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $136.00.

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.