Baldwin Wealth Partners LLC MA Sells 1,650 Shares of ConocoPhillips (NYSE:COP)

Baldwin Wealth Partners LLC MA lowered its stake in shares of ConocoPhillips (NYSE:COP) by 23.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,250 shares of the energy producer’s stock after selling 1,650 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in ConocoPhillips were worth $521,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Albion Financial Group UT raised its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates lifted its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $102.58 on Monday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $102.98 and a two-hundred day simple moving average of $107.06. The company has a market cap of $118.06 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.86 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 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 during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 7.65 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 issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Raymond James upped their target price on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, sixteen 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 $135.89.

Insiders Place Their Bets

In related news, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price 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 $3,716,400. The trade was a 37.68 % 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 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.