ConocoPhillips (NYSE:COP) Stock Holdings Cut by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 25.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,814 shares of the energy producer’s stock after selling 14,962 shares during the period. Kovitz Investment Group Partners LLC’s holdings in ConocoPhillips were worth $4,444,000 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. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at $32,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at $36,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.0 %

NYSE COP opened at $91.78 on Monday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.44. 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 company has a market capitalization of $116.03 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The firm’s fifty day simple moving average is $94.56 and its 200-day simple moving average is $100.52.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share 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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on COP shares. Susquehanna set a $136.00 price objective on ConocoPhillips in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $126.89.

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.