Opal Wealth Advisors LLC Cuts Stake in ConocoPhillips (NYSE:COP)

Opal Wealth Advisors LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,343 shares of the energy producer’s stock after selling 279 shares during the period. Opal Wealth Advisors LLC’s holdings in ConocoPhillips were worth $232,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Albion Financial Group UT raised its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates raised its holdings in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction 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 completion of the purchase, the director now owns 38,000 shares of the company’s stock, 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 accessible through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction 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 $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $99.39 on Tuesday. The company has a market cap of $114.39 billion, a PE ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a fifty day moving average price of $101.05 and a two-hundred day moving average price of $106.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

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

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COP. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $157.00 to $124.00 in a research note on Monday. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $133.72.

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.