Providence Capital Advisors LLC Cuts Stake in ConocoPhillips (NYSE:COP)

Providence Capital Advisors LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,800 shares of the energy producer’s stock after selling 800 shares during the quarter. Providence Capital Advisors LLC’s holdings in ConocoPhillips were worth $5,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter valued at $27,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter worth approximately $31,000. Finally, Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the 4th quarter worth about $32,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP opened at $102.86 on Friday. The company has a fifty day moving average price of $99.02 and a 200 day moving average price of $103.30. The stock has a market cap of $130.87 billion, a P/E ratio of 13.20, 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 has a one year low of $86.81 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COP. Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. JPMorgan Chase & Co. cut their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley reduced their price objective on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Barclays lowered their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

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.