Breakwater Capital Group Sells 402 Shares of ConocoPhillips (NYSE:COP)

Breakwater Capital Group reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,754 shares of the energy producer’s stock after selling 402 shares during the quarter. Breakwater Capital Group’s holdings in ConocoPhillips were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $26,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the third quarter worth about $31,000. Fairway Wealth LLC boosted its stake in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.6 %

Shares of ConocoPhillips stock opened at $104.83 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a market cap of $120.65 billion, a PE ratio of 12.46, a PEG ratio of 0.83 and a beta of 1.19. The company has a 50 day simple moving average of $104.21 and a two-hundred day simple moving average of $107.56.

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

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts recently commented on COP shares. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research 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. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $136.65.

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.