Uncommon Cents Investing LLC Cuts Holdings in ConocoPhillips (NYSE:COP)

Uncommon Cents Investing LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 56,680 shares of the energy producer’s stock after selling 1,615 shares during the period. ConocoPhillips accounts for about 2.2% of Uncommon Cents Investing LLC’s investment portfolio, making the stock its 4th biggest holding. Uncommon Cents Investing LLC’s holdings in ConocoPhillips were worth $6,579,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. West Tower Group LLC bought a new position in ConocoPhillips during the second quarter valued at approximately $27,000. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $27,000. RVW Wealth LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $28,000. Fairfield Bush & CO. purchased a new stake in shares of ConocoPhillips in the first quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in shares of ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $127.28 on Friday. The stock has a 50-day simple moving average of $113.87 and a two-hundred day simple moving average of $116.08. The firm has a market capitalization of $149.73 billion, a P/E ratio of 14.05, a PEG ratio of 2.88 and a beta of 1.23. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $128.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the business posted $2.71 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Analysts Set New Price Targets

Several research firms have commented on COP. Mizuho restated a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Piper Sandler reduced their price objective on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. Scotiabank raised their price objective on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.35.

About ConocoPhillips

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.