RMR Wealth Builders Sells 279 Shares of ConocoPhillips (NYSE:COP)

RMR Wealth Builders trimmed its position in ConocoPhillips (NYSE:COP) by 10.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,388 shares of the energy producer’s stock after selling 279 shares during the period. RMR Wealth Builders’ holdings in ConocoPhillips were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Global Wealth Strategies & Associates grew its position in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $101.93 on Friday. The company’s 50 day simple moving average is $104.39 and its two-hundred day simple moving average is $107.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market capitalization of $117.31 billion, a PE ratio of 12.12, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.16 EPS. Analysts predict that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group dropped their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays upped their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $136.71.

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.