ConocoPhillips (NYSE:COP) Shares Sold by Wealthspan Partners LLC

Wealthspan Partners LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,482 shares of the energy producer’s stock after selling 259 shares during the period. Wealthspan Partners LLC’s holdings in ConocoPhillips were worth $1,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter valued at about $26,000. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on COP shares. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $135.89.

Insider Activity

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents 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 company insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $98.70 on Monday. ConocoPhillips has a 52 week low of $94.23 and a 52 week 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 company’s 50-day moving average price is $101.82 and its two-hundred day moving average price is $106.59. The stock has a market cap of $113.59 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.16 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.64 EPS for the current fiscal year.

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.