Alliance Wealth Advisors LLC UT Lowers Stock Position in ConocoPhillips (NYSE:COP)

Alliance Wealth Advisors LLC UT reduced its stake in ConocoPhillips (NYSE:COP) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,457 shares of the energy producer’s stock after selling 145 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in ConocoPhillips were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in COP. Capital Investment Counsel Inc purchased a new position in shares of ConocoPhillips during the third quarter worth $228,000. Columbia Trust Co 01012016 increased its stake in ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares during the period. Raymond James & Associates boosted its position in ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after buying an additional 23,572 shares during the period. Syon Capital LLC acquired a new position in ConocoPhillips during the 3rd quarter worth $2,262,000. Finally, PFG Investments LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $233,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last quarter. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

COP traded up $0.13 during trading on Friday, reaching $130.24. 4,823,139 shares of the stock were exchanged, compared to its average volume of 3,808,210. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a market capitalization of $153.22 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 2.72 and a beta of 1.24. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18. The business’s 50 day moving average price is $122.49 and its two-hundred day moving average price is $117.62.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the firm posted $2.71 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is 25.61%.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Scotiabank raised their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Mizuho reissued a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Piper Sandler upped their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial decreased their target price on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Barclays initiated coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.24.

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.