White Pine Capital LLC Has $362,000 Position in ConocoPhillips (NYSE:COP)

White Pine Capital LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,121 shares of the energy producer’s stock after selling 600 shares during the period. White Pine Capital LLC’s holdings in ConocoPhillips were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $2,662,000. Citizens Financial Group Inc. RI boosted its position in shares of ConocoPhillips by 158.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 66,415 shares of the energy producer’s stock valued at $7,709,000 after acquiring an additional 40,753 shares in the last quarter. Golden State Equity Partners boosted its position in shares of ConocoPhillips by 5.0% during the 4th quarter. Golden State Equity Partners now owns 6,069 shares of the energy producer’s stock valued at $704,000 after acquiring an additional 287 shares in the last quarter. Jackson Hole Capital Partners LLC boosted its position in ConocoPhillips by 42.0% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 13,366 shares of the energy producer’s stock valued at $1,551,000 after buying an additional 3,955 shares in the last quarter. Finally, VCI Wealth Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at about $931,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial reduced their price target on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target on the stock. Raymond James dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Trading Up 0.1 %

NYSE:COP traded up $0.13 during trading hours on Friday, hitting $130.24. The stock had a trading volume of 4,823,139 shares, compared to its average volume of 3,808,210. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. 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 company has a market cap of $153.22 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 2.72 and a beta of 1.24. The business’s 50 day moving average is $122.49 and its 200-day moving average is $117.62.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm earned $2.71 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 25.61%.

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.