Mattern Wealth Management LLC Sells 2,800 Shares of ConocoPhillips (NYSE:COP)

Mattern Wealth Management LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 39.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,343 shares of the energy producer’s stock after selling 2,800 shares during the quarter. Mattern Wealth Management LLC’s holdings in ConocoPhillips were worth $431,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COP. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Raymond James boosted their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. 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 upped their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Performance

COP stock opened at $102.73 on Tuesday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The business’s 50-day moving average price is $102.98 and its two-hundred day moving average price is $107.06. The firm has a market cap of $118.23 billion, a PE ratio of 12.21, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for 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 business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. As a group, research analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.04%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.