ConocoPhillips (NYSE:COP) Shares Sold by Denali Advisors LLC

Denali Advisors LLC decreased its stake in ConocoPhillips (NYSE:COP) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,185 shares of the energy producer’s stock after selling 6,762 shares during the period. Denali Advisors LLC’s holdings in ConocoPhillips were worth $3,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in 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 period. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $96.99 on Wednesday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a 50 day simple moving average of $100.07 and a 200-day simple moving average of $105.28. The firm has a market cap of $123.41 billion, a PE ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its earnings results 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, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business 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. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. ConocoPhillips’s payout ratio is 40.05%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, 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 document filed with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were 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 owns 21,500 shares of the company’s stock, 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 owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. UBS Group cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.47.

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.