Beacon Financial Group Sells 4,028 Shares of ConocoPhillips (NYSE:COP)

Beacon Financial Group reduced its holdings in ConocoPhillips (NYSE:COP) by 16.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,190 shares of the energy producer’s stock after selling 4,028 shares during the period. Beacon Financial Group’s holdings in ConocoPhillips were worth $2,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. increased its holdings in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in ConocoPhillips by 401.5% during 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 acquiring an additional 3,541,504 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on COP. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $157.00 to $124.00 in a research report on Monday. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Barclays reduced their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.72.

ConocoPhillips Stock Up 2.3 %

Shares of COP opened at $101.72 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm’s 50 day moving average is $100.91 and its 200-day moving average is $106.03. The stock has a market capitalization of $117.08 billion, a PE ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts forecast that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated 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 acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips 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 purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % 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 company insiders.

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.