ConocoPhillips (NYSE:COP) Shares Sold by Burney Co.

Burney Co. reduced its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,530 shares of the energy producer's stock after selling 5,567 shares during the quarter. Burney Co.'s holdings in ConocoPhillips were worth $4,614,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter worth about $31,000. Global Wealth Strategies & Associates grew its stake in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips in the third quarter valued at about $35,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on COP shares. Evercore ISI reaffirmed an "outperform" rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Susquehanna raised their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research note on Friday, November 1st. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Buy" and an average target price of $136.65.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the business's stock in a transaction 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 acquisition, the director now owns 38,000 shares of the company's stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % 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

ConocoPhillips stock traded up $0.14 during mid-day trading on Thursday, hitting $105.62. 5,272,235 shares of the company's stock traded hands, compared to its average volume of 5,594,242. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a market cap of $121.56 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The firm has a 50 day moving average price of $104.05 and a 200 day moving average price of $107.54. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company's revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. ConocoPhillips's dividend payout ratio (DPR) is 37.10%.

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.