Venturi Wealth Management LLC Sells 2,027 Shares of ConocoPhillips (NYSE:COP)

Venturi Wealth Management LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,519 shares of the energy producer’s stock after selling 2,027 shares during the quarter. Venturi Wealth Management LLC’s holdings in ConocoPhillips were worth $12,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AMF Tjanstepension AB raised its holdings in shares of ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after purchasing an additional 52,334 shares during the period. Creative Planning lifted its position in shares of ConocoPhillips by 1.7% during the 3rd quarter. Creative Planning now owns 248,439 shares of the energy producer’s stock valued at $26,156,000 after buying an additional 4,214 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of ConocoPhillips by 2.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 389,958 shares of the energy producer’s stock worth $41,055,000 after acquiring an additional 10,588 shares during the period. Cedrus LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth about $208,000. Finally, Vest Financial LLC raised its stake in ConocoPhillips by 244.2% in the 3rd quarter. Vest Financial LLC now owns 8,830 shares of the energy producer’s stock valued at $930,000 after acquiring an additional 6,265 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value 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. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on COP. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Barclays decreased 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. 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 for the company. Finally, Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

ConocoPhillips Stock Down 0.5 %

Shares of ConocoPhillips stock opened at $96.39 on Tuesday. The stock has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The company’s 50 day moving average price is $100.44 and its 200-day moving average price is $105.69. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

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%. Equities research analysts forecast that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, February 14th. 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.