KG&L Capital Management LLC Cuts Position in ConocoPhillips (NYSE:COP)

KG&L Capital Management LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,441 shares of the energy producer’s stock after selling 3,870 shares during the period. KG&L Capital Management LLC’s holdings in ConocoPhillips were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

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

ConocoPhillips Trading Down 2.7 %

NYSE:COP opened at $98.70 on Friday. The company has a market capitalization of $113.59 billion, a PE ratio of 11.74, a P/E/G ratio of 0.78 and a beta of 1.19. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The stock’s 50 day moving average price is $101.82 and its 200 day moving average price is $106.71. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the firm posted $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, research analysts anticipate that ConocoPhillips will post 7.64 EPS for the current year.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Piper Sandler decreased 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. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Two investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $135.89.

Insiders Place Their Bets

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction 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 transaction, the director now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by 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.