Harel Insurance Investments & Financial Services Ltd. Sells 14,275 Shares of ConocoPhillips (NYSE:COP)

Harel Insurance Investments & Financial Services Ltd. lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 76.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,303 shares of the energy producer’s stock after selling 14,275 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in ConocoPhillips were worth $427,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Cypress Capital Group increased its holdings 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 acquiring an additional 96 shares during the last quarter. Aprio Wealth Management LLC increased its holdings in shares of ConocoPhillips by 4.8% in the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares during the last quarter. Smithfield Trust Co raised its position in shares of ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC lifted its stake in shares of ConocoPhillips by 1.0% during the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after buying an additional 102 shares during the last quarter. Finally, Asset Dedication LLC boosted its holdings in shares of ConocoPhillips by 2.5% during the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock worth $442,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired 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. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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 shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $101.88 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $117.26 billion, a PE ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The business’s 50-day moving average price is $103.19 and its two-hundred day moving average price is $107.20.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, analysts expect that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

COP has been the subject of several research reports. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Raymond James upped their price objective on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a report on Thursday. Scotiabank dropped their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $135.89.

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.