Stack Financial Management Inc Trims Stake in ConocoPhillips (NYSE:COP)

Stack Financial Management Inc trimmed its position in shares of ConocoPhillips (NYSE:COP) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,714 shares of the energy producer’s stock after selling 1,875 shares during the period. ConocoPhillips comprises 1.7% of Stack Financial Management Inc’s holdings, making the stock its 25th biggest holding. Stack Financial Management Inc’s holdings in ConocoPhillips were worth $18,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates increased its stake in ConocoPhillips by 80.5% in 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. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Barclays reduced their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Finally, Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $98.82 on Tuesday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a market capitalization of $125.73 billion, a PE ratio of 12.68, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a 50-day simple moving average of $100.09 and a two-hundred day simple moving average of $105.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.16%. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

ConocoPhillips Company 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.