Parkside Investments LLC Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Parkside Investments LLC decreased its position in ConocoPhillips (NYSE:COP) by 41.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 100,008 shares of the energy producer’s stock after selling 71,936 shares during the quarter. ConocoPhillips comprises approximately 1.6% of Parkside Investments LLC’s portfolio, making the stock its 21st largest holding. Parkside Investments LLC’s holdings in ConocoPhillips were worth $10,909,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kavar Capital Partners Group LLC boosted its position in ConocoPhillips by 2.3% in the fourth quarter. Kavar Capital Partners Group LLC now owns 5,167 shares of the energy producer’s stock worth $512,000 after purchasing an additional 116 shares during the last quarter. Webster Bank N. A. raised its stake in shares of ConocoPhillips by 27.7% during the 4th quarter. Webster Bank N. A. now owns 1,773 shares of the energy producer’s stock worth $176,000 after purchasing an additional 385 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of ConocoPhillips by 14.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,235,507 shares of the energy producer’s stock worth $519,205,000 after buying an additional 647,778 shares during the last quarter. United Asset Strategies Inc. bought a new position in ConocoPhillips during the fourth quarter valued at about $351,000. Finally, Cornerstone Wealth Group LLC increased its holdings in ConocoPhillips by 4.1% during the fourth quarter. Cornerstone Wealth Group LLC now owns 46,203 shares of the energy producer’s stock worth $4,582,000 after buying an additional 1,807 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of a number of research analyst reports. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Two 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Trading Down 2.0 %

ConocoPhillips stock opened at $101.88 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $117.26 billion, a P/E ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19. The firm’s fifty day moving average price is $102.98 and its 200-day moving average price is $107.06.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 EPS. Equities research analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were acquired 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 directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

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.