ConocoPhillips (NYSE:COP) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV cut its position in ConocoPhillips (NYSE:COP) by 3.9% in the fourth quarter, Holdings Channel reports. The firm owned 18,047 shares of the energy producer’s stock after selling 735 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in ConocoPhillips were worth $1,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Acadian Asset Management LLC boosted its stake in ConocoPhillips by 5,787.6% during the 2nd quarter. Acadian Asset Management LLC now owns 24,728 shares of the energy producer’s stock worth $2,827,000 after purchasing an additional 24,308 shares during the period. MGO One Seven LLC grew its holdings in shares of ConocoPhillips by 6.4% during the second quarter. MGO One Seven LLC now owns 19,849 shares of the energy producer’s stock worth $2,270,000 after buying an additional 1,194 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of ConocoPhillips during the second quarter worth about $410,000. LPL Financial LLC increased its position in ConocoPhillips by 10.0% in the 2nd quarter. LPL Financial LLC now owns 990,552 shares of the energy producer’s stock valued at $113,299,000 after acquiring an additional 90,051 shares during the period. Finally, Qsemble Capital Management LP raised its stake in ConocoPhillips by 180.0% during the 2nd quarter. Qsemble Capital Management LP now owns 32,604 shares of the energy producer’s stock valued at $3,729,000 after acquiring an additional 20,959 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the business’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 owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COP. Scotiabank dropped their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Truist Financial cut their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price objective on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $136.71.

ConocoPhillips Trading Down 0.2 %

Shares of COP stock opened at $101.48 on Friday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. 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 business has a fifty day simple moving average of $104.51 and a 200-day simple moving average of $107.88. The stock has a market cap of $116.79 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.07%. ConocoPhillips’s dividend payout ratio (DPR) 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.