Sippican Capital Advisors Lowers Position in ConocoPhillips (NYSE:COP)

Sippican Capital Advisors decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,298 shares of the energy producer’s stock after selling 130 shares during the quarter. Sippican Capital Advisors’ holdings in ConocoPhillips were worth $525,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Sentry LLC lifted its position in ConocoPhillips by 88.8% during the fourth quarter. Sentry LLC now owns 7,482 shares of the energy producer’s stock valued at $742,000 after purchasing an additional 3,519 shares during the last quarter. Busey Bank lifted its holdings in shares of ConocoPhillips by 7.5% during the 4th quarter. Busey Bank now owns 13,987 shares of the energy producer’s stock worth $1,387,000 after acquiring an additional 970 shares during the last quarter. Synergy Asset Management LLC purchased a new position in ConocoPhillips in the fourth quarter worth $56,000. Gries Financial LLC increased its stake in ConocoPhillips by 5.5% in the fourth quarter. Gries Financial LLC now owns 7,924 shares of the energy producer’s stock valued at $786,000 after acquiring an additional 413 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its position in ConocoPhillips by 12.8% during the fourth quarter. Hanson & Doremus Investment Management now owns 7,937 shares of the energy producer’s stock valued at $787,000 after purchasing an additional 900 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

COP opened at $101.49 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market capitalization of $116.81 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. The stock’s 50 day moving average price is $102.53 and its 200-day moving average price is $106.90. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (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 business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts predict that ConocoPhillips will post 7.65 EPS for the current year.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Scotiabank reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Susquehanna upped their price objective 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. Finally, Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $135.89.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly 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. 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.