Cypress Capital Group Cuts Stock Position in ConocoPhillips (NYSE:COP)

Cypress Capital Group trimmed its position in shares of ConocoPhillips (NYSE:COP) by 15.5% in the 4th quarter, Holdings Channel reports. The firm owned 15,879 shares of the energy producer’s stock after selling 2,911 shares during the period. Cypress Capital Group’s holdings in ConocoPhillips were worth $1,575,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $35,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $36,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $90.62 on Wednesday. ConocoPhillips has a 52 week low of $88.47 and a 52 week high of $135.18. The business’s fifty day simple moving average is $99.99 and its 200-day simple moving average is $104.75. The firm has a market cap of $115.31 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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 forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling

In related news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 38,000 shares in the company, valued at $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.

Analysts Set New Price Targets

Several analysts recently commented on COP shares. Barclays dropped their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Morgan Stanley initiated coverage on ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Finally, Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $133.47.

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.