Alpha Omega Wealth Management LLC Sells 165 Shares of ConocoPhillips (NYSE:COP)

Alpha Omega Wealth Management LLC lessened its stake in ConocoPhillips (NYSE:COP) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,829 shares of the energy producer’s stock after selling 165 shares during the period. Alpha Omega Wealth Management LLC’s holdings in ConocoPhillips were worth $281,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Albion Financial Group UT boosted its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Values First Advisors Inc. bought a new stake in ConocoPhillips during the third quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $135.89.

Insiders Place Their Bets

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

ConocoPhillips Stock Down 2.7 %

NYSE:COP opened at $98.70 on Friday. The company has a market cap of $113.59 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.19. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $101.82 and a 200-day simple moving average of $106.71.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 EPS. Analysts anticipate that ConocoPhillips will post 7.64 EPS for the current year.

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.