AlphaStar Capital Management LLC Sells 421 Shares of ConocoPhillips (NYSE:COP)

AlphaStar Capital Management LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 7.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,027 shares of the energy producer’s stock after selling 421 shares during the quarter. AlphaStar Capital Management LLC’s holdings in ConocoPhillips were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. State Street Corp grew 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 valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. 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 last quarter. Geode Capital Management LLC grew its position in shares of ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the period. Franklin Resources Inc. increased its stake in shares of ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings 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 worth $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $98.34 on Monday. The company has a market capitalization of $113.18 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.77 and a beta of 1.18. The business’s 50-day moving average is $101.05 and its 200 day moving average is $106.15. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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 research analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Transactions 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 bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of the firm’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 completion of the transaction, the director now owns 38,000 shares of the company’s stock, 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. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $135.89.

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.