Fifth Third Wealth Advisors LLC Sells 8,199 Shares of ConocoPhillips (NYSE:COP)

Fifth Third Wealth Advisors LLC reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,248 shares of the energy producer's stock after selling 8,199 shares during the period. Fifth Third Wealth Advisors LLC's holdings in ConocoPhillips were worth $1,810,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of COP. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the third quarter valued at approximately $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Global Wealth Strategies & Associates lifted its stake 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 valued at $34,000 after purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips in the third quarter worth $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a "neutral" rating to an "overweight" rating and raised their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Susquehanna upped their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $136.65.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company's stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred 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. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP traded up $0.14 on Thursday, reaching $105.62. 5,272,235 shares of the stock traded hands, compared to its average volume of 5,594,242. The firm has a market cap of $121.56 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.81 and a beta of 1.19. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock's 50-day moving average price is $104.05 and its 200-day moving average price is $107.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the company posted $2.16 earnings per share. The business's revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

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.