Patton Albertson Miller Group LLC Sells 132 Shares of ConocoPhillips (NYSE:COP)

Patton Albertson Miller Group LLC cut its position in ConocoPhillips (NYSE:COP) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,969 shares of the energy producer’s stock after selling 132 shares during the period. Patton Albertson Miller Group LLC’s holdings in ConocoPhillips were worth $592,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. AXA S.A. increased its holdings in shares of ConocoPhillips by 7.1% in the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after acquiring an additional 2,116 shares in the last quarter. AQR Capital Management LLC increased its stake in ConocoPhillips by 25.2% during the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock worth $70,363,000 after purchasing an additional 123,834 shares in the last quarter. Mackenzie Financial Corp raised its holdings in ConocoPhillips by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,262,477 shares of the energy producer’s stock worth $144,402,000 after buying an additional 20,443 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in ConocoPhillips by 1,005.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 306,327 shares of the energy producer’s stock worth $35,038,000 after buying an additional 278,627 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in ConocoPhillips by 5.3% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 64,708 shares of the energy producer’s stock valued at $7,401,000 after buying an additional 3,286 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley assumed coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Scotiabank decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $135.89.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Stock Down 2.0 %

Shares of COP stock opened at $101.88 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $117.26 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19. The firm’s 50-day moving average is $102.98 and its 200-day moving average is $107.13.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm posted $2.16 earnings per share. Sell-side analysts predict that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.06%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

ConocoPhillips Company 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.