Burney Co. Lowers Stock Position in ConocoPhillips (NYSE:COP)

Burney Co. cut its position in shares of ConocoPhillips (NYSE:COPFree Report) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,740 shares of the energy producer’s stock after selling 4,990 shares during the quarter. Burney Co.’s holdings in ConocoPhillips were worth $5,672,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. raised its stake in shares of ConocoPhillips by 398.1% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after purchasing an additional 215 shares during the period. Northwest Bank & Trust Co purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $29,000. Fairfield Bush & CO. bought a new position in ConocoPhillips during the first quarter valued at $31,000. NewSquare Capital LLC increased its position in ConocoPhillips by 335.4% in the first quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock worth $34,000 after buying an additional 265 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 91.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 402 shares of the energy producer’s stock worth $40,000 after acquiring an additional 192 shares during the period. 80.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.2 %

Shares of NYSE COP opened at $115.54 on Wednesday. The firm has a fifty day simple moving average of $120.20 and a two-hundred day simple moving average of $112.21. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $134.84. The company has a current ratio of 1.66, a quick ratio of 1.53 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $137.19 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a $0.58 dividend. The ex-dividend date is Monday, November 13th. This represents a $2.32 annualized dividend and a dividend yield of 2.01%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio is currently 25.36%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. Johnson Rice started coverage on shares of ConocoPhillips in a research report on Tuesday. They set an “accumulate” rating and a $135.00 target price for the company. Mizuho increased their price objective on ConocoPhillips from $135.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, September 18th. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, October 2nd. Finally, Truist Financial boosted their price target on shares of ConocoPhillips from $151.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.35.

Get Our Latest Stock Report on ConocoPhillips

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 44,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $114.64, for a total value of $5,044,160.00. Following the completion of the transaction, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ConocoPhillips news, Director Timothy A. Leach sold 44,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $114.64, for a total value of $5,044,160.00. Following the sale, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sharmila Mulligan sold 1,849 shares of ConocoPhillips stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total transaction of $231,476.31. The disclosure for this sale can be found here. Insiders have sold 646,049 shares of company stock worth $78,636,116 over the last ninety days. 0.37% of the stock is owned by corporate insiders.

About ConocoPhillips

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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