Hosking Partners LLP Cuts Stake in ConocoPhillips (NYSE:COP)

Hosking Partners LLP decreased its stake in ConocoPhillips (NYSE:COP) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 324,838 shares of the energy producer’s stock after selling 52,986 shares during the period. ConocoPhillips accounts for about 1.3% of Hosking Partners LLP’s holdings, making the stock its 24th biggest position. Hosking Partners LLP’s holdings in ConocoPhillips were worth $32,214,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its holdings in ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after acquiring an additional 52,334 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of ConocoPhillips by 27.8% in the third quarter. Pallas Capital Advisors LLC now owns 7,325 shares of the energy producer’s stock valued at $765,000 after purchasing an additional 1,594 shares during the period. Valmark Advisers Inc. lifted its stake in shares of ConocoPhillips by 12.5% during the 3rd quarter. Valmark Advisers Inc. now owns 5,289 shares of the energy producer’s stock valued at $557,000 after buying an additional 586 shares in the last quarter. Mutual Advisors LLC boosted its holdings in ConocoPhillips by 3.0% in the 3rd quarter. Mutual Advisors LLC now owns 13,739 shares of the energy producer’s stock worth $1,434,000 after buying an additional 398 shares during the period. Finally, GSB Wealth Management LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at approximately $215,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. UBS Group lowered their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, 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 report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Stock Up 1.1 %

Shares of COP opened at $97.19 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $100.11 and a two-hundred day simple moving average of $105.16. The firm has a market cap of $123.67 billion, a P/E ratio of 12.48, a P/E/G ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.21%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

ConocoPhillips Company 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.