ConocoPhillips (NYSE:COP) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 19.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,642 shares of the energy producer’s stock after selling 1,134 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in ConocoPhillips were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Albion Financial Group UT grew its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth $31,000. Finally, Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.5 %

COP opened at $96.39 on Monday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The stock has a market capitalization of $110.93 billion, a PE ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18. The firm’s fifty day moving average price is $100.44 and its 200 day moving average price is $105.73.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insiders Place Their Bets

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

Analyst Ratings Changes

COP has been the subject of several research analyst reports. Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.56.

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.