ConocoPhillips (NYSE:COP) Shares Sold by Perkins Capital Management Inc.

Perkins Capital Management Inc. trimmed its position in ConocoPhillips (NYSE:COP) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,850 shares of the energy producer’s stock after selling 250 shares during the quarter. Perkins Capital Management Inc.’s holdings in ConocoPhillips were worth $679,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. Twin City Private Wealth LLC lifted its holdings in ConocoPhillips by 3.4% in the fourth quarter. Twin City Private Wealth LLC now owns 7,591 shares of the energy producer’s stock valued at $753,000 after acquiring an additional 250 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Stevens Capital Management LP acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $995,000. Finally, LPL Financial LLC lifted its position in ConocoPhillips by 8.8% in the fourth quarter. LPL Financial LLC now owns 1,111,391 shares of the energy producer’s stock valued at $110,217,000 after buying an additional 90,067 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COP. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $102.05 on Monday. The firm’s fifty day simple moving average is $99.21 and its 200-day simple moving average is $103.37. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The stock has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. As a group, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. ConocoPhillips’s payout ratio is currently 40.05%.

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.