Byrne Asset Management LLC Sells 1,099 Shares of ConocoPhillips (NYSE:COP)

Byrne Asset Management LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,089 shares of the energy producer’s stock after selling 1,099 shares during the quarter. Byrne Asset Management LLC’s holdings in ConocoPhillips were worth $1,100,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. State Street Corp increased its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Fisher Asset Management LLC raised its stake in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the period. Pacer Advisors Inc. lifted its holdings in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COP. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Susquehanna increased their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $135.89.

ConocoPhillips Stock Down 1.6 %

NYSE COP opened at $98.34 on Friday. The business has a fifty day moving average price of $101.25 and a two-hundred day moving average price of $106.28. The stock has a market capitalization of $113.18 billion, a PE ratio of 12.62, a PEG ratio of 0.77 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. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. Equities analysts expect that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 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.