Portside Wealth Group LLC Cuts Holdings in ConocoPhillips (NYSE:COP)

Portside Wealth Group LLC lowered its position in shares of ConocoPhillips (NYSE:COPFree Report) by 6.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,140 shares of the energy producer’s stock after selling 677 shares during the quarter. Portside Wealth Group LLC’s holdings in ConocoPhillips were worth $1,177,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COP. Norris Perne & French LLP MI lifted its position in shares of ConocoPhillips by 1.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after acquiring an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC boosted its position in shares of ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after buying an additional 85 shares during the period. Mascoma Wealth Management LLC grew its holdings in shares of ConocoPhillips by 35.9% during the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after buying an additional 88 shares in the last quarter. CRA Financial Services LLC raised its position in ConocoPhillips by 1.9% during the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after buying an additional 89 shares during the period. Finally, KLCM Advisors Inc. raised its position in ConocoPhillips by 2.8% during the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Dominic E. Macklon sold 23,372 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total transaction of $2,621,637.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dominic E. Macklon sold 23,372 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,425 shares of company stock valued at $4,077,489. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Susquehanna dropped their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Piper Sandler lowered their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Mizuho reaffirmed a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday. Finally, Scotiabank upped their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.12.

View Our Latest Report on COP

ConocoPhillips Trading Down 0.4 %

COP stock opened at $123.03 on Monday. The business has a fifty day moving average of $112.85 and a 200-day moving average of $115.95. The company has a market cap of $144.73 billion, a P/E ratio of 13.58, a PEG ratio of 2.80 and a beta of 1.23. ConocoPhillips has a twelve month low of $93.26 and a twelve month high of $127.35. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the firm earned $2.71 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.79 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

ConocoPhillips Profile

(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, 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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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