First Horizon Advisors Inc. Lowers Stock Position in ConocoPhillips (NYSE:COP)

First Horizon Advisors Inc. decreased its position in ConocoPhillips (NYSE:COP) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,226 shares of the energy producer’s stock after selling 7,427 shares during the period. First Horizon Advisors Inc.’s holdings in ConocoPhillips were worth $4,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT grew its position 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 acquiring an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth approximately $27,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COP. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. UBS Group cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $133.47.

Insider Buying and Selling

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased 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 in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Down 4.0 %

Shares of COP opened at $97.90 on Monday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $100.11 and a two-hundred day simple moving average of $105.43. The company has a market capitalization of $124.57 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

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.