Atlas Private Wealth Advisors Lowers Holdings in ConocoPhillips (NYSE:COP)

Atlas Private Wealth Advisors decreased its holdings in ConocoPhillips (NYSE:COP) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,040 shares of the energy producer’s stock after selling 368 shares during the quarter. Atlas Private Wealth Advisors’ holdings in ConocoPhillips were worth $469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norris Perne & French LLP MI lifted its stake in ConocoPhillips by 1.9% in the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after acquiring an additional 80 shares during the last quarter. Sloy Dahl & Holst LLC lifted its stake in ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after acquiring an additional 85 shares during the last quarter. Mascoma Wealth Management LLC lifted its stake in ConocoPhillips by 35.9% in the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after acquiring an additional 88 shares during the last quarter. CRA Financial Services LLC lifted its stake in ConocoPhillips by 1.9% in the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock worth $563,000 after acquiring an additional 89 shares during the last quarter. Finally, KLCM Advisors Inc. raised its holdings in ConocoPhillips by 2.8% during the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Johnson Rice cut shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Piper Sandler cut their price objective on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Mizuho cut their price objective on shares of ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, January 3rd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.06.

ConocoPhillips Stock Performance

COP traded up $0.22 during trading on Monday, hitting $120.26. The stock had a trading volume of 4,813,562 shares, compared to its average volume of 5,916,931. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The firm has a market capitalization of $141.48 billion, a P/E ratio of 13.27, a PEG ratio of 0.75 and a beta of 1.23. The company’s 50-day moving average price is $111.97 and its 200 day moving average price is $115.95. ConocoPhillips has a twelve month low of $93.26 and a twelve month high of $127.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the previous year, the firm earned $2.71 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

Insiders Place Their Bets

In related news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Dominic E. Macklon sold 23,372 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $112.17, for a total transaction of $2,621,637.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,425 shares of company stock worth $4,077,489. Corporate insiders own 0.37% of the company’s stock.

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.