Burney Co. Sells 5,567 Shares of ConocoPhillips (NYSE:COP)

Burney Co. lessened its holdings in ConocoPhillips (NYSE:COP) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,530 shares of the energy producer’s stock after selling 5,567 shares during the period. Burney Co.’s holdings in ConocoPhillips were worth $4,614,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the third quarter valued at $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter valued at $31,000. Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the third quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on COP shares. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday. Finally, Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $136.65.

ConocoPhillips Stock Up 0.5 %

NYSE:COP opened at $105.45 on Thursday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a 50-day moving average of $104.21 and a 200 day moving average of $107.56. The firm has a market cap of $121.36 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.96%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.