Lyell Wealth Management LP Has $3.19 Million Position in ConocoPhillips (NYSE:COP)

Lyell Wealth Management LP cut its stake in shares of ConocoPhillips (NYSE:COP) by 31.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,183 shares of the energy producer’s stock after selling 14,582 shares during the quarter. Lyell Wealth Management LP’s holdings in ConocoPhillips were worth $3,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its stake in shares of ConocoPhillips by 11.4% in the 4th quarter. Global Retirement Partners LLC now owns 9,580 shares of the energy producer’s stock valued at $950,000 after purchasing an additional 981 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $165,000. New York State Common Retirement Fund lifted its stake in shares of ConocoPhillips by 7.7% in the 4th quarter. New York State Common Retirement Fund now owns 2,234,124 shares of the energy producer’s stock valued at $221,558,000 after purchasing an additional 158,973 shares during the period. Callahan Advisors LLC lifted its stake in shares of ConocoPhillips by 8.8% in the 4th quarter. Callahan Advisors LLC now owns 9,314 shares of the energy producer’s stock valued at $924,000 after purchasing an additional 753 shares during the period. Finally, Mcdonald Partners LLC lifted its stake in shares of ConocoPhillips by 16.2% in the 4th quarter. Mcdonald Partners LLC now owns 21,539 shares of the energy producer’s stock valued at $2,136,000 after purchasing an additional 3,006 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COP. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $133.56.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated 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 owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents 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 Trading Up 1.1 %

NYSE:COP opened at $97.35 on Wednesday. The company has a market cap of $112.04 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.75 and a beta of 1.18. The stock’s fifty day moving average price is $100.20 and its two-hundred day moving average price is $105.55. ConocoPhillips has a 1 year low of $94.23 and a 1 year 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 1.14.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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, analysts expect 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. 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 annualized dividend and a dividend yield of 3.20%. ConocoPhillips’s payout ratio is currently 40.05%.

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.