Beacon Financial Group Cuts Stock Position in ConocoPhillips (NYSE:COP)

Beacon Financial Group cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,190 shares of the energy producer's stock after selling 4,028 shares during the period. Beacon Financial Group's holdings in ConocoPhillips were worth $2,002,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% during the 4th 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. 82.36% of the stock is currently owned by institutional investors.

Insider Activity 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 bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company's stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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ConocoPhillips Trading Down 0.5 %

Shares of COP stock traded down $0.52 during trading hours on Friday, reaching $96.39. 7,959,626 shares of the stock were exchanged, compared to its average volume of 5,701,314. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $100.44 and its 200-day moving average price is $105.76. The firm has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts' consensus estimates 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 analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. ConocoPhillips's payout ratio is 40.05%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 target price for the company. Evercore ISI reaffirmed an "outperform" rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. UBS Group cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Barclays cut their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $133.56.

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.