Van ECK Associates Corp Sells 11,770 Shares of ConocoPhillips (NYSE:COP)

Van ECK Associates Corp trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 233,570 shares of the energy producer’s stock after selling 11,770 shares during the quarter. Van ECK Associates Corp’s holdings in ConocoPhillips were worth $23,163,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in COP. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on COP shares. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised shares of 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 research note on Thursday, December 5th. Barclays decreased their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.56.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the company’s 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 purchase, 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. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Down 0.5 %

COP opened at $96.39 on Friday. 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 quick ratio of 1.16 and a current ratio of 1.29. The company has a market capitalization of $110.93 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18. The stock has a fifty day moving average of $100.58 and a 200-day moving average of $105.85.

ConocoPhillips (NYSE:COP) last posted its 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 return on equity of 17.26% and a net margin of 16.23%. On average, equities analysts expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) 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.