D.A. Davidson & CO. Sells 8,559 Shares of ConocoPhillips (NYSE:COP)

D.A. Davidson & CO. trimmed its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,958 shares of the energy producer's stock after selling 8,559 shares during the quarter. D.A. Davidson & CO.'s holdings in ConocoPhillips were worth $12,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Capital Group raised its holdings in shares of ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock worth $1,978,000 after purchasing an additional 96 shares during the period. Orrstown Financial Services Inc. raised its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after purchasing an additional 96 shares during the period. Smithfield Trust Co raised its holdings in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer's stock worth $332,000 after purchasing an additional 100 shares during the period. Principle Wealth Partners LLC raised its holdings in shares of ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after purchasing an additional 100 shares during the period. Finally, Verus Capital Partners LLC raised its holdings in shares of ConocoPhillips by 2.0% in the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer's stock worth $541,000 after purchasing an additional 102 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group dropped their target price on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a report on Friday, November 1st. TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They set a "buy" rating and a $125.00 price objective on the stock. 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. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 target price for the company. Two equities 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 MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.56.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company's stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker bought 10,400 shares of the company's stock in a transaction dated 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 completion of the acquisition, the director now owns 38,000 shares in the company, valued at $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 insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $4.10 during trading hours on Friday, hitting $97.90. The stock had a trading volume of 8,561,843 shares, compared to its average volume of 6,781,136. The company has a 50-day moving average of $100.17 and a two-hundred day moving average of $105.48. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $124.57 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. ConocoPhillips's payout ratio is presently 40.05%.

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.