Bryn Mawr Capital Management LLC Decreases Holdings in ConocoPhillips (NYSE:COP)

Bryn Mawr Capital Management LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 97.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,435 shares of the energy producer’s stock after selling 138,215 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in ConocoPhillips were worth $341,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. increased its holdings in ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares during the last quarter. Brookstone Capital Management increased its holdings in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after buying an additional 383 shares during the last quarter. Prospera Financial Services Inc increased its holdings in ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after buying an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.56.

ConocoPhillips Trading Down 4.0 %

Shares of ConocoPhillips stock opened at $97.90 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a market cap of $124.57 billion, a PE ratio of 12.57, a PEG ratio of 0.78 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a 50 day simple moving average of $100.11 and a two-hundred day simple moving average of $105.44.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.19%. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost 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. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated 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 acquisition, 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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.