Opal Wealth Advisors LLC Trims Holdings in ConocoPhillips (NYSE:COP)

Opal Wealth Advisors LLC lowered its holdings in ConocoPhillips (NYSE:COP) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,343 shares of the energy producer’s stock after selling 279 shares during the period. Opal Wealth Advisors LLC’s holdings in ConocoPhillips were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Wingate Wealth Advisors Inc. acquired a new position in ConocoPhillips during the 4th quarter worth approximately $36,000. Savant Capital LLC grew its holdings in ConocoPhillips by 38.6% during the 4th quarter. Savant Capital LLC now owns 47,405 shares of the energy producer’s stock worth $4,701,000 after acquiring an additional 13,199 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in ConocoPhillips by 13.1% during the 4th quarter. Angeles Wealth Management LLC now owns 8,994 shares of the energy producer’s stock worth $892,000 after acquiring an additional 1,040 shares in the last quarter. Tevis Investment Management grew its holdings in ConocoPhillips by 24.3% during the 4th quarter. Tevis Investment Management now owns 2,782 shares of the energy producer’s stock worth $276,000 after acquiring an additional 544 shares in the last quarter. Finally, Legacy Financial Strategies LLC grew its holdings in ConocoPhillips by 11.4% during the 4th quarter. Legacy Financial Strategies LLC now owns 2,533 shares of the energy producer’s stock worth $253,000 after acquiring an additional 259 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen initiated 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. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.72.

Insiders Place Their Bets

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

ConocoPhillips Stock Performance

NYSE:COP opened at $99.39 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $114.39 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The firm’s fifty day simple moving average is $101.05 and its 200-day simple moving average is $106.11.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

ConocoPhillips 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.