Brookmont Capital Management Sells 1,693 Shares of ConocoPhillips (NYSE:COP)

Brookmont Capital Management lessened its holdings in ConocoPhillips (NYSE:COP) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,325 shares of the energy producer’s stock after selling 1,693 shares during the quarter. ConocoPhillips accounts for approximately 1.6% of Brookmont Capital Management’s investment portfolio, making the stock its 24th biggest holding. Brookmont Capital Management’s holdings in ConocoPhillips were worth $2,908,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the third quarter worth $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter worth $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter worth $31,000. Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter worth $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. 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 report on Monday, January 13th. Barclays boosted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $136.00.

ConocoPhillips Trading Up 0.1 %

COP opened at $105.76 on Tuesday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a 50-day simple moving average of $103.79 and a 200 day simple moving average of $107.37. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.88 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted 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. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the business posted $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price 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 $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.