Aspen Wealth Strategies LLC Reduces Position in ConocoPhillips (NYSE:COP)

Aspen Wealth Strategies LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 32.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,507 shares of the energy producer’s stock after selling 3,161 shares during the period. Aspen Wealth Strategies LLC’s holdings in ConocoPhillips were worth $645,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COP. Atlanta Consulting Group Advisors LLC purchased a new stake in ConocoPhillips in the 3rd quarter valued at about $410,000. Claro Advisors LLC boosted its position in ConocoPhillips by 23.5% in the 3rd quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock valued at $444,000 after buying an additional 803 shares during the period. Strengthening Families & Communities LLC boosted its position in ConocoPhillips by 11.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 16,403 shares of the energy producer’s stock valued at $1,727,000 after buying an additional 1,655 shares during the period. Drive Wealth Management LLC boosted its position in ConocoPhillips by 3.2% in the 3rd quarter. Drive Wealth Management LLC now owns 15,455 shares of the energy producer’s stock valued at $1,627,000 after buying an additional 475 shares during the period. Finally, Cassaday & Co Wealth Management LLC boosted its position in ConocoPhillips by 6.3% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 4,328 shares of the energy producer’s stock valued at $456,000 after buying an additional 255 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.5 %

NYSE COP opened at $99.42 on Tuesday. 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 firm has a market cap of $126.50 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a 50 day moving average price of $99.22 and a 200 day moving average price of $103.65. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 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, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.14%. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on 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 purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on COP shares. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays lowered their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, UBS Group lowered their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

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.