ConocoPhillips (NYSE:COP) Shares Sold by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 4.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,005 shares of the energy producer’s stock after selling 586 shares during the quarter. FAS Wealth Partners Inc.’s holdings in ConocoPhillips were worth $1,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Orrstown Financial Services Inc. boosted its stake in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after acquiring an additional 96 shares during the period. Principle Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC boosted its position in ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after purchasing an additional 102 shares during the period. Courier Capital LLC grew its stake in ConocoPhillips by 0.5% during the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after buying an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. increased its position in ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Wells Fargo & Company lowered their target price on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, Susquehanna set a $136.00 price target on ConocoPhillips in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $124.79.

ConocoPhillips Trading Up 1.8 %

ConocoPhillips stock opened at $90.71 on Friday. The firm has a market cap of $114.67 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $125.22. The firm’s 50 day moving average price is $93.89 and its two-hundred day moving average price is $100.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

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, 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, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

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.