Thrive Wealth Management LLC Sells 910 Shares of ConocoPhillips (NYSE:COP)

Thrive Wealth Management LLC reduced its position in ConocoPhillips (NYSE:COP) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,069 shares of the energy producer’s stock after selling 910 shares during the quarter. Thrive Wealth Management LLC’s holdings in ConocoPhillips were worth $304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $35,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of 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 acquiring an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction 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 acquisition, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, 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. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Up 0.1 %

Shares of COP opened at $105.76 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The stock has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19. The stock has a 50 day moving average price of $103.79 and a 200 day moving average price of $107.43.

ConocoPhillips (NYSE:COP) last issued its quarterly 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

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

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. TD Cowen initiated coverage on ConocoPhillips in a research note on Friday. They set a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Two equities research 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. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Buy” and an average target price of $136.00.

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.