Aspen Wealth Strategies LLC Sells 3,161 Shares of ConocoPhillips (NYSE:COP)

Aspen Wealth Strategies LLC cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,507 shares of the energy producer's stock after selling 3,161 shares during the quarter. Aspen Wealth Strategies LLC's holdings in ConocoPhillips were worth $645,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COP. Albion Financial Group UT grew its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the 4th quarter worth about $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the 3rd quarter worth about $31,000. RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $35,000. Finally, Marshall Investment Management LLC purchased a new stake in ConocoPhillips during the fourth quarter valued at about $36,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

COP stock traded down $0.26 during midday trading on Friday, hitting $102.05. 55,090,085 shares of the company traded hands, compared to its average volume of 8,654,744. The business has a 50 day simple moving average of $99.21 and a 200-day simple moving average of $103.53. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The stock has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

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ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Raymond James lowered shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Truist Financial boosted their target price 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. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Barclays dropped their price target on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $133.05.

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.