ConocoPhillips (NYSE:COP) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,500 shares of the energy producer's stock after selling 3,000 shares during the period. Cohen Klingenstein LLC's holdings in ConocoPhillips were worth $2,826,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. lifted its holdings in shares of ConocoPhillips by 444.8% in the 2nd quarter. Edgestream Partners L.P. now owns 13,484 shares of the energy producer's stock worth $1,542,000 after buying an additional 11,009 shares during the period. XTX Topco Ltd grew its holdings in ConocoPhillips by 168.3% during the 2nd quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer's stock worth $1,446,000 after acquiring an additional 7,928 shares in the last quarter. ProVise Management Group LLC increased its position in ConocoPhillips by 10.2% during the 2nd quarter. ProVise Management Group LLC now owns 50,288 shares of the energy producer's stock valued at $5,752,000 after purchasing an additional 4,655 shares during the period. Intech Investment Management LLC raised its holdings in shares of ConocoPhillips by 72.3% in the 2nd quarter. Intech Investment Management LLC now owns 111,852 shares of the energy producer's stock valued at $12,794,000 after purchasing an additional 46,942 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of ConocoPhillips by 9.3% in the 2nd quarter. Brighton Jones LLC now owns 14,990 shares of the energy producer's stock worth $1,715,000 after purchasing an additional 1,275 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company's stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company's stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company's stock.

ConocoPhillips Price Performance

Shares of COP traded up $0.15 during mid-day trading on Friday, hitting $105.76. 8,546,391 shares of the company were exchanged, compared to its average volume of 6,479,072. The stock has a market cap of $121.72 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a 50 day moving average of $103.79 and a 200-day moving average of $107.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the business posted $2.16 earnings per share. The business's quarterly revenue was down 8.5% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. 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 dividend payout ratio is 37.10%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets increased their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Finally, Truist Financial lifted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $136.00.

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.