LongView Wealth Management Cuts Stake in ConocoPhillips (NYSE:COP)

LongView Wealth Management decreased its stake in shares of ConocoPhillips (NYSE:COP) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,014 shares of the energy producer’s stock after selling 189 shares during the period. LongView Wealth Management’s holdings in ConocoPhillips were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. acquired a new position in ConocoPhillips in the third quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $35,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

COP stock opened at $105.76 on Friday. The company’s 50 day simple moving average is $103.91 and its 200-day simple moving average is $107.53. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released 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 company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two investment 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. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $136.00.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

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.