ConocoPhillips (NYSE:COP) Position Lessened by Occidental Asset Management LLC

Occidental Asset Management LLC decreased its position in ConocoPhillips (NYSE:COP) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,706 shares of the energy producer’s stock after selling 978 shares during the period. Occidental Asset Management LLC’s holdings in ConocoPhillips were worth $566,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in ConocoPhillips during the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Global Wealth Strategies & Associates lifted its stake in ConocoPhillips by 80.5% during 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 last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of recent research reports. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Buy” and an average target price of $136.65.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker purchased 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, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % 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 Trading Up 0.1 %

ConocoPhillips stock opened at $105.62 on Friday. The business’s 50-day simple moving average is $104.05 and its 200-day simple moving average is $107.54. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a market capitalization of $121.56 billion, a PE ratio of 12.56, a PEG ratio of 0.81 and a beta of 1.19. 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 (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. Equities research analysts forecast that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. ConocoPhillips’s dividend payout ratio (DPR) is 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.