ConocoPhillips (NYSE:COP) Shares Sold by apricus wealth LLC

apricus wealth LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,682 shares of the energy producer’s stock after selling 135 shares during the period. ConocoPhillips accounts for about 1.5% of apricus wealth LLC’s holdings, making the stock its 29th biggest holding. apricus wealth LLC’s holdings in ConocoPhillips were worth $2,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its stake in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP lifted its position in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC boosted its stake in ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after buying an additional 924,289 shares during the last quarter. Franklin Resources Inc. grew its holdings in ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after buying an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Raymond James upped their price objective on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a report on Thursday. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $101.88 on Friday. The firm has a market capitalization of $117.26 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. 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 has a 52 week low of $94.23 and a 52 week high of $135.18. The firm’s 50 day moving average is $103.19 and its two-hundred day moving average is $107.20.

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, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The business’s revenue was down 8.5% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,500 shares in the company, 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. Insiders own 0.34% of the company’s stock.

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.