Alan B Lancz & Associates Inc. Trims Stock Position in ConocoPhillips (NYSE:COP)

Alan B Lancz & Associates Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,242 shares of the energy producer’s stock after selling 500 shares during the period. Alan B Lancz & Associates Inc.’s holdings in ConocoPhillips were worth $322,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in ConocoPhillips in the third quarter valued at about $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates raised 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 acquiring an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.0 %

ConocoPhillips stock opened at $101.88 on Friday. The stock has a market cap of $117.26 billion, a PE ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock’s fifty day moving average is $102.98 and its two-hundred day moving average is $107.13. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.16 EPS. On average, sell-side analysts expect that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Wells Fargo & Company decreased 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. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Raymond James increased their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Buy” and a consensus price target of $135.89.

Insider Activity at ConocoPhillips

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

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.