Guinness Asset Management LTD Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Guinness Asset Management LTD reduced its stake in shares of ConocoPhillips (NYSE:COP) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,674 shares of the energy producer’s stock after selling 21,060 shares during the period. Guinness Asset Management LTD’s holdings in ConocoPhillips were worth $13,783,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Values First Advisors Inc. acquired a new position in ConocoPhillips during the third quarter worth $26,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips during the third quarter worth about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $136.00.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was 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.

ConocoPhillips Stock Up 0.1 %

Shares of ConocoPhillips stock opened at $105.76 on Monday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a 50 day moving average of $103.79 and a 200 day moving average of $107.43. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 EPS. As a group, research analysts forecast that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.