Letko Brosseau & Associates Inc. Sells 2,260 Shares of ConocoPhillips (NYSE:COP)

Letko Brosseau & Associates Inc. trimmed its stake in ConocoPhillips (NYSE:COP) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 428,484 shares of the energy producer’s stock after selling 2,260 shares during the period. Letko Brosseau & Associates Inc.’s holdings in ConocoPhillips were worth $42,493,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT lifted its position in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at $27,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips during the fourth quarter worth about $32,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COP. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reduced their target price on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. UBS Group reduced their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.89.

ConocoPhillips Stock Performance

NYSE COP opened at $88.58 on Monday. The stock’s 50 day simple moving average is $93.08 and its 200-day simple moving average is $99.37. The company has a market cap of $111.98 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $122.56.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same period in the prior year, the firm posted $2.05 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

About ConocoPhillips

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.