Howland Capital Management LLC Reduces Position in ConocoPhillips (NYSE:COP)

Howland Capital Management LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 14.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,397 shares of the energy producer’s stock after selling 2,680 shares during the quarter. Howland Capital Management LLC’s holdings in ConocoPhillips were worth $1,527,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in COP. AMF Tjanstepension AB grew its stake in ConocoPhillips by 4.7% during the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares during the last quarter. Brookstone Capital Management grew its stake in shares of ConocoPhillips by 12.7% in the 3rd quarter. Brookstone Capital Management now owns 8,472 shares of the energy producer’s stock valued at $892,000 after purchasing an additional 957 shares during the last quarter. CWM LLC grew its stake in shares of ConocoPhillips by 6.4% in the 3rd quarter. CWM LLC now owns 46,650 shares of the energy producer’s stock valued at $4,911,000 after purchasing an additional 2,805 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of ConocoPhillips by 5.2% in the 3rd quarter. Independence Bank of Kentucky now owns 6,808 shares of the energy producer’s stock valued at $717,000 after purchasing an additional 338 shares during the last quarter. Finally, HCR Wealth Advisors grew its stake in shares of ConocoPhillips by 0.8% in the 3rd quarter. HCR Wealth Advisors now owns 35,882 shares of the energy producer’s stock valued at $3,778,000 after purchasing an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on COP shares. Wells Fargo & Company lowered their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Buy” and an average price target of $135.89.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased 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 owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction that occurred 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 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 Stock Performance

NYSE COP opened at $98.34 on Friday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $113.18 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The business has a fifty day moving average of $101.05 and a 200-day moving average of $106.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts predict that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

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.