Arvest Investments Inc. Sells 621 Shares of ConocoPhillips (NYSE:COP)

Arvest Investments Inc. lessened its holdings in ConocoPhillips (NYSE:COP) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,317 shares of the energy producer’s stock after selling 621 shares during the quarter. Arvest Investments Inc.’s holdings in ConocoPhillips were worth $825,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise lifted its position in shares of ConocoPhillips by 20.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 9,332 shares of the energy producer’s stock worth $982,000 after buying an additional 1,598 shares during the period. Prospera Private Wealth LLC lifted its holdings in shares of ConocoPhillips by 221.9% during the third quarter. Prospera Private Wealth LLC now owns 5,668 shares of the energy producer’s stock valued at $597,000 after acquiring an additional 3,907 shares during the period. Howe & Rusling Inc. boosted its stake in shares of ConocoPhillips by 4.3% in the 3rd quarter. Howe & Rusling Inc. now owns 4,389 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 179 shares in the last quarter. Cornerstone Advisors LLC grew its holdings in shares of ConocoPhillips by 10.5% in the 3rd quarter. Cornerstone Advisors LLC now owns 64,000 shares of the energy producer’s stock worth $6,738,000 after purchasing an additional 6,100 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of ConocoPhillips by 2.5% during the 3rd quarter. King Luther Capital Management Corp now owns 2,316,602 shares of the energy producer’s stock worth $243,892,000 after purchasing an additional 56,696 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $102.25 on Friday. The firm’s 50 day moving average price is $99.21 and its two-hundred day moving average price is $103.53. The stock has a market cap of $130.09 billion, a PE ratio of 13.13, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced 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%. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio is 40.05%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company decreased their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Two 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.05.

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.