Eagle Bay Advisors LLC Has $170,000 Position in ConocoPhillips (NYSE:COP)

Eagle Bay Advisors LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,715 shares of the energy producer’s stock after selling 232 shares during the quarter. Eagle Bay Advisors LLC’s holdings in ConocoPhillips were worth $170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Parallel Advisors LLC grew its position in shares of ConocoPhillips by 1.0% during the 2nd quarter. Parallel Advisors LLC now owns 27,170 shares of the energy producer’s stock worth $3,108,000 after buying an additional 271 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of ConocoPhillips by 34.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 8,373 shares of the energy producer’s stock worth $957,000 after buying an additional 2,130 shares during the period. Wealthspire Advisors LLC grew its position in shares of ConocoPhillips by 8.5% during the 2nd quarter. Wealthspire Advisors LLC now owns 8,145 shares of the energy producer’s stock worth $932,000 after buying an additional 641 shares during the period. Envestnet Asset Management Inc. grew its position in shares of ConocoPhillips by 6.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,883,417 shares of the energy producer’s stock worth $329,805,000 after buying an additional 178,129 shares during the period. Finally, Prosperity Consulting Group LLC grew its position in shares of ConocoPhillips by 2.6% during the 2nd quarter. Prosperity Consulting Group LLC now owns 6,774 shares of the energy producer’s stock worth $775,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Morgan Stanley initiated 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. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Susquehanna increased their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $136.76.

ConocoPhillips Price Performance

COP stock traded up $1.90 during mid-day trading on Monday, reaching $103.82. 3,021,962 shares of the company traded hands, compared to its average volume of 5,253,927. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $119.49 billion, a P/E ratio of 12.34, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a fifty day moving average price of $104.39 and a 200-day moving average price of $107.70.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.