Miller Howard Investments Inc. NY Sells 2,410 Shares of ConocoPhillips (NYSE:COP)

Miller Howard Investments Inc. NY decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 7.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,423 shares of the energy producer’s stock after selling 2,410 shares during the period. Miller Howard Investments Inc. NY’s holdings in ConocoPhillips were worth $3,017,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Albion Financial Group UT lifted its holdings in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the period. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its stake in 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 purchasing an additional 153 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $98.34 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The firm has a market cap of $113.18 billion, a PE ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The firm has a fifty day moving average of $101.05 and a 200 day moving average of $106.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.17%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Raymond James upped their price target on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. 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. Finally, Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $135.89.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, 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. Insiders own 0.34% of the company’s stock.

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.