ConocoPhillips (NYSE:COP) Holdings Lowered by Cairn Investment Group Inc.

Cairn Investment Group Inc. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 38,923 shares of the energy producer’s stock after selling 1,130 shares during the period. ConocoPhillips makes up about 2.3% of Cairn Investment Group Inc.’s holdings, making the stock its 15th largest position. Cairn Investment Group Inc.’s holdings in ConocoPhillips were worth $3,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Cypress Capital Group increased its holdings in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after buying an additional 96 shares during the last quarter. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares during the last quarter. Aprio Wealth Management LLC increased its holdings in shares of ConocoPhillips by 4.8% in the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares during the last quarter. Smithfield Trust Co increased its holdings in shares of ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares during the last quarter. Finally, Ignite Planners LLC increased its holdings in shares of ConocoPhillips by 1.0% in the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after purchasing an additional 102 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 0.1 %

COP stock opened at $101.49 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $116.81 billion, a PE ratio of 12.07, a PEG ratio of 0.86 and a beta of 1.19. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a 50-day simple moving average of $102.53 and a two-hundred day simple moving average of $106.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.16 EPS. On average, equities analysts predict that ConocoPhillips will post 7.65 EPS for the current fiscal year.

Insider Activity

In other 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 bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on COP shares. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Barclays boosted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Two 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $135.89.

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.