Mitchell Mcleod Pugh & Williams Inc. Sells 1,230 Shares of ConocoPhillips (NYSE:COP)

Mitchell Mcleod Pugh & Williams Inc. decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,254 shares of the energy producer’s stock after selling 1,230 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in ConocoPhillips were worth $620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Tidal Investments LLC increased its stake in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares in the last quarter. Brookstone Capital Management lifted its holdings in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares in the last quarter. Prospera Financial Services Inc boosted its position in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director R A. Walker acquired 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction 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 acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $105.76 on Monday. The company has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The business’s 50-day moving average is $103.79 and its two-hundred day moving average is $107.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share 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 company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business earned $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. Research analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued 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 dividend on an annualized basis and a yield of 2.95%. ConocoPhillips’s payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COP shares. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. BMO Capital Markets lifted their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $136.00.

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.