Maiden Cove Capital LLC Has $596,000 Position in ConocoPhillips (NYSE:COP)

Maiden Cove Capital LLC lessened its position in ConocoPhillips (NYSE:COP) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,011 shares of the energy producer’s stock after selling 469 shares during the quarter. Maiden Cove Capital LLC’s holdings in ConocoPhillips were worth $596,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of COP. Hills Bank & Trust Co increased its stake in ConocoPhillips by 14.4% in the 4th quarter. Hills Bank & Trust Co now owns 5,687 shares of the energy producer’s stock valued at $564,000 after buying an additional 717 shares during the last quarter. First National Trust Co increased its holdings in ConocoPhillips by 8.2% during the fourth quarter. First National Trust Co now owns 54,649 shares of the energy producer’s stock worth $5,420,000 after buying an additional 4,122 shares during the last quarter. Intact Investment Management Inc. raised its position in ConocoPhillips by 8.3% during the fourth quarter. Intact Investment Management Inc. now owns 54,100 shares of the energy producer’s stock worth $5,365,000 after acquiring an additional 4,150 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its stake in ConocoPhillips by 515.1% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 30,060 shares of the energy producer’s stock valued at $2,981,000 after acquiring an additional 25,173 shares during the last quarter. Finally, Northwest Wealth Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $205,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $99.10 on Friday. The firm has a 50 day moving average of $99.22 and a 200-day moving average of $103.87. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. 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 market capitalization of $126.09 billion, a PE ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.05.

Insiders Place Their Bets

In related news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was purchased 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 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.