ConocoPhillips (NYSE:COP) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its position in shares of ConocoPhillips (NYSE:COP) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 37,462 shares of the energy producer’s stock after selling 217 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ConocoPhillips were worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in shares of ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares during the last quarter. Alpha DNA Investment Management LLC grew its position in shares of 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 during the last quarter. Prospera Financial Services Inc raised its stake in ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in ConocoPhillips by 1.9% in 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 last quarter. Finally, Pacer Advisors Inc. lifted its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets raised 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. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $136.65.

ConocoPhillips Trading Up 0.1 %

ConocoPhillips stock opened at $105.62 on Friday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The stock has a market capitalization of $121.56 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The firm has a 50 day simple moving average of $104.05 and a 200-day simple moving average of $107.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $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 the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

About ConocoPhillips

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.