Beacon Financial Group Sells 4,028 Shares of ConocoPhillips (NYSE:COP)

Beacon Financial Group trimmed its position in ConocoPhillips (NYSE:COP) by 16.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,190 shares of the energy producer’s stock after selling 4,028 shares during the period. Beacon Financial Group’s holdings in ConocoPhillips were worth $2,002,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of COP. Tidal Investments LLC increased its holdings in ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Brookstone Capital Management increased its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the period. Prospera Financial Services Inc raised its holdings in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.72.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $101.72 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The company’s 50-day moving average is $100.91 and its 200-day moving average is $106.03. The stock has a market capitalization of $117.08 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 return on equity of 17.26% and a net margin of 16.23%. Equities research analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.07%. ConocoPhillips’s dividend payout ratio (DPR) 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.