Wealth Alliance Sells 1,427 Shares of ConocoPhillips (NYSE:COP)

Wealth Alliance lowered its position in shares of ConocoPhillips (NYSE:COP) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,256 shares of the energy producer’s stock after selling 1,427 shares during the period. Wealth Alliance’s holdings in ConocoPhillips were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB grew its position in shares of ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares during the last quarter. Foundations Investment Advisors LLC increased its position in ConocoPhillips by 2.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 12,268 shares of the energy producer’s stock valued at $1,292,000 after purchasing an additional 256 shares during the period. Greenleaf Trust raised its holdings in ConocoPhillips by 28.9% in the 3rd quarter. Greenleaf Trust now owns 26,343 shares of the energy producer’s stock worth $2,773,000 after purchasing an additional 5,899 shares in the last quarter. Courier Capital LLC lifted its position in shares of ConocoPhillips by 5.7% in the 3rd quarter. Courier Capital LLC now owns 20,378 shares of the energy producer’s stock worth $2,145,000 after purchasing an additional 1,095 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after purchasing an additional 1,194,434 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 2.5 %

NYSE COP opened at $102.05 on Friday. The stock has a market cap of $117.45 billion, a PE ratio of 13.10, a P/E/G ratio of 0.76 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock’s 50 day moving average is $100.17 and its 200 day moving average is $105.48.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. 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. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.56.

Insider Activity

In related news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.