ConocoPhillips (NYSE:COP) Holdings Cut by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its holdings in ConocoPhillips (NYSE:COP) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,741 shares of the energy producer’s stock after selling 2,239 shares during the period. Parsons Capital Management Inc. RI’s holdings in ConocoPhillips were worth $4,536,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COP. Mount Yale Investment Advisors LLC increased its stake in shares of ConocoPhillips by 57.7% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 9,871 shares of the energy producer’s stock valued at $979,000 after purchasing an additional 3,612 shares during the period. Kavar Capital Partners Group LLC increased its stake in shares of ConocoPhillips by 2.3% during the fourth quarter. Kavar Capital Partners Group LLC now owns 5,167 shares of the energy producer’s stock valued at $512,000 after acquiring an additional 116 shares during the period. Webster Bank N. A. boosted its holdings in ConocoPhillips by 27.7% during the fourth quarter. Webster Bank N. A. now owns 1,773 shares of the energy producer’s stock worth $176,000 after buying an additional 385 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in ConocoPhillips by 14.1% during the fourth 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 in the last quarter. Finally, United Asset Strategies Inc. bought a new stake in ConocoPhillips during the fourth quarter worth approximately $351,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. 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 objective for the company. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $135.89.

Insiders Place Their Bets

In other news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction dated 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 owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.4 %

Shares of COP stock opened at $102.19 on Monday. The firm has a fifty day moving average of $102.98 and a 200-day moving average of $107.06. 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 has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a market capitalization of $117.62 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm posted $2.16 EPS. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.05%. ConocoPhillips’s payout ratio is 37.10%.

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.