Janney Capital Management LLC Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Janney Capital Management LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,540 shares of the energy producer’s stock after selling 2,109 shares during the quarter. Janney Capital Management LLC’s holdings in ConocoPhillips were worth $5,607,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in COP. Albion Financial Group UT grew its stake in shares of 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 acquiring an additional 228 shares in the last quarter. Viking Fund Management LLC purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $1,983,000. Advisory Alpha LLC boosted its stake in shares of ConocoPhillips by 57.4% during the 4th quarter. Advisory Alpha LLC now owns 15,234 shares of the energy producer’s stock valued at $1,511,000 after buying an additional 5,558 shares during the last quarter. MBM Wealth Consultants LLC grew its position in shares of ConocoPhillips by 12.4% during the fourth quarter. MBM Wealth Consultants LLC now owns 4,284 shares of the energy producer’s stock worth $429,000 after buying an additional 473 shares in the last quarter. Finally, Davis Capital Management raised its holdings in ConocoPhillips by 35.3% in the fourth quarter. Davis Capital Management now owns 606 shares of the energy producer’s stock valued at $60,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two equities research 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. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $136.00.

ConocoPhillips Stock Performance

COP stock opened at $104.05 on Wednesday. The company has a 50-day simple moving average of $103.54 and a 200 day simple moving average of $107.25. The company has a market capitalization of $119.76 billion, a P/E ratio of 12.37, a PEG ratio of 0.88 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the business posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.00%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti purchased 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 in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, 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 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.