TBH Global Asset Management LLC Sells 722 Shares of ConocoPhillips (NYSE:COP)

TBH Global Asset Management LLC cut its stake in ConocoPhillips (NYSE:COP) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,958 shares of the energy producer’s stock after selling 722 shares during the quarter. TBH Global Asset Management LLC’s holdings in ConocoPhillips were worth $1,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Albion Financial Group UT boosted its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new stake in ConocoPhillips in the third quarter worth about $26,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $99.55 on Thursday. The company has a market capitalization of $114.57 billion, a PE ratio of 12.78, a P/E/G ratio of 0.75 and a beta of 1.18. The company has a 50-day simple moving average of $100.15 and a two-hundred day simple moving average of $105.51. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. 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 issued its quarterly earnings data 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 net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on COP shares. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company 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 reduced their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, UBS Group dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.56.

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.