Barings LLC Cuts Stake in ConocoPhillips (NYSE:COP)

Barings LLC reduced its position in ConocoPhillips (NYSE:COP) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,709 shares of the energy producer’s stock after selling 941 shares during the quarter. Barings LLC’s holdings in ConocoPhillips were worth $10,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cypress Capital Group grew its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the last quarter. Orrstown Financial Services Inc. grew its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after buying an additional 96 shares during the last quarter. Smithfield Trust Co grew its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the last quarter. Principle Wealth Partners LLC grew its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after buying an additional 100 shares during the last quarter. Finally, Verus Capital Partners LLC grew its holdings in shares of ConocoPhillips by 2.0% during the third quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock valued at $541,000 after buying an additional 102 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on COP shares. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. UBS Group dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays dropped their price objective 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. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Trading Up 2.4 %

Shares of ConocoPhillips stock opened at $90.70 on Friday. The firm has a 50-day simple moving average of $99.53 and a two-hundred day simple moving average of $104.34. The company has a market cap of $115.40 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week 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 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%. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.44%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.