Byrne Asset Management LLC Has $1.10 Million Position in ConocoPhillips (NYSE:COP)

Byrne Asset Management LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,089 shares of the energy producer’s stock after selling 1,099 shares during the quarter. Byrne Asset Management LLC’s holdings in ConocoPhillips were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the third quarter worth $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter worth $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the third quarter valued at $31,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $98.34 on Friday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $101.25 and a two-hundred day simple moving average of $106.28. The firm has a market cap of $113.18 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Raymond James raised their price objective on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. JPMorgan Chase & Co. raised 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 research note on Thursday, December 5th. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $135.89.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated 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 completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker acquired 10,400 shares of the company’s 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 directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

ConocoPhillips Company 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.