Triangle Securities Wealth Management Decreases Position in ConocoPhillips (NYSE:COP)

Triangle Securities Wealth Management trimmed its stake in ConocoPhillips (NYSE:COP) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,509 shares of the energy producer’s stock after selling 261 shares during the period. Triangle Securities Wealth Management’s holdings in ConocoPhillips were worth $1,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter worth about $31,000. Global Wealth Strategies & Associates lifted its position in 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. Finally, RPg Family Wealth Advisory LLC purchased a new stake in ConocoPhillips in the 3rd quarter valued at approximately $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on COP shares. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $136.00.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction 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. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $105.76 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $121.72 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The business’s 50-day moving average price is $103.79 and its 200 day moving average price is $107.47. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for 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%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.16 EPS. On average, research analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

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.