ConocoPhillips (NYSE:COP) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 32.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,700 shares of the energy producer’s stock after selling 4,700 shares during the period. Huber Capital Management LLC’s holdings in ConocoPhillips were worth $962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bridgewater Associates LP grew its holdings in shares of ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after purchasing an additional 1,141 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of ConocoPhillips by 489.8% during the third quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock worth $2,814,000 after buying an additional 22,182 shares during the period. Investment Management Corp of Ontario raised its holdings in ConocoPhillips by 47.7% in the third quarter. Investment Management Corp of Ontario now owns 38,710 shares of the energy producer’s stock valued at $4,075,000 after acquiring an additional 12,500 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in ConocoPhillips by 9.9% in the third quarter. Integrated Wealth Concepts LLC now owns 29,896 shares of the energy producer’s stock worth $3,147,000 after acquiring an additional 2,692 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in ConocoPhillips by 36.4% during the 3rd quarter. IHT Wealth Management LLC now owns 9,276 shares of the energy producer’s stock worth $985,000 after acquiring an additional 2,473 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley cut their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two investment 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. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Trading Up 0.7 %

NYSE:COP opened at $106.12 on Thursday. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $99.02 and a 200-day simple moving average of $103.33. The company has a market capitalization of $135.02 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly 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 expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 2.94%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

About ConocoPhillips

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.