Kovack Advisors Inc. Sells 3,719 Shares of ConocoPhillips (NYSE:COP)

Kovack Advisors Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 13.4% in the 4th quarter, HoldingsChannel reports. The firm owned 24,060 shares of the energy producer’s stock after selling 3,719 shares during the period. Kovack Advisors Inc.’s holdings in ConocoPhillips were worth $2,386,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $96.06 on Thursday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a market capitalization of $122.23 billion, a P/E ratio of 12.33, a PEG ratio of 0.79 and a beta of 1.18. 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 company has a 50-day moving average price of $100.07 and a 200-day moving average price of $105.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Analyst Ratings Changes

Several brokerages recently commented on COP. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Barclays decreased their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Finally, Susquehanna lifted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two equities research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.47.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction 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 completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade 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 currently 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.