Wealth Alliance Advisory Group LLC Sells 1,029 Shares of ConocoPhillips (NYSE:COP)

Wealth Alliance Advisory Group LLC lowered its position in ConocoPhillips (NYSE:COP) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,461 shares of the energy producer’s stock after selling 1,029 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in ConocoPhillips were worth $1,831,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in COP. XTX Topco Ltd grew its holdings in ConocoPhillips by 168.3% during the second quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer’s stock valued at $1,446,000 after purchasing an additional 7,928 shares during the period. Intech Investment Management LLC increased its stake in ConocoPhillips by 72.3% in the 2nd quarter. Intech Investment Management LLC now owns 111,852 shares of the energy producer’s stock worth $12,794,000 after acquiring an additional 46,942 shares during the last quarter. Brighton Jones LLC raised its stake in ConocoPhillips by 9.3% in the second quarter. Brighton Jones LLC now owns 14,990 shares of the energy producer’s stock valued at $1,715,000 after purchasing an additional 1,275 shares in the last quarter. Ieq Capital LLC grew its position in ConocoPhillips by 6.8% in the second quarter. Ieq Capital LLC now owns 62,773 shares of the energy producer’s stock worth $7,180,000 after acquiring an additional 4,020 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of ConocoPhillips by 25.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 37,493 shares of the energy producer’s stock valued at $4,289,000 after buying an additional 7,545 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COP. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $136.00.

Insider Activity

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

ConocoPhillips Stock Up 0.1 %

Shares of COP opened at $105.76 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The business has a fifty day moving average of $103.79 and a 200 day moving average of $107.47. The company has a market cap of $121.72 billion, a PE ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.