Advisors Asset Management Inc. Sells 22,261 Shares of ConocoPhillips (NYSE:COP)

Advisors Asset Management Inc. decreased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,837 shares of the energy producer's stock after selling 22,261 shares during the quarter. Advisors Asset Management Inc.'s holdings in ConocoPhillips were worth $5,141,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Albion Financial Group UT raised its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new position in ConocoPhillips in the 4th quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% in the 4th 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 purchased a new position in shares of ConocoPhillips in the third quarter worth $35,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on COP. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Evercore ISI reissued an "outperform" rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Piper Sandler decreased 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. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $133.05.

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ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.36 during mid-day trading on Monday, reaching $102.28. The company's stock had a trading volume of 6,767,381 shares, compared to its average volume of 6,434,778. The stock has a fifty day moving average of $99.21 and a two-hundred day moving average of $103.37. The firm has a market capitalization of $130.14 billion, a PE ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips's dividend payout ratio is currently 40.05%.

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.