Bailard Inc. Sells 2,483 Shares of ConocoPhillips (NYSE:COP)

Bailard Inc. reduced its stake in ConocoPhillips (NYSE:COP) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,757 shares of the energy producer’s stock after selling 2,483 shares during the period. Bailard Inc.’s holdings in ConocoPhillips were worth $18,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP raised its position in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC raised its position in ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. raised its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Piper Sandler lowered their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $99.12 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a market cap of $126.12 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18. The company’s fifty day moving average is $100.19 and its 200 day moving average is $105.06.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, 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 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.