ConocoPhillips (NYSE:COP) Shares Sold by TruWealth Advisors LLC

TruWealth Advisors LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,341 shares of the energy producer’s stock after selling 638 shares during the period. TruWealth Advisors LLC’s holdings in ConocoPhillips were worth $232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cypress Capital Group boosted its position in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after acquiring an additional 96 shares during the period. Aprio Wealth Management LLC lifted its holdings in ConocoPhillips by 4.8% in the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after purchasing an additional 97 shares during the period. Smithfield Trust Co grew its position in ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC grew its position in ConocoPhillips by 1.0% in the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after buying an additional 102 shares in the last quarter. Finally, Asset Dedication LLC raised its position in shares of ConocoPhillips by 2.5% during the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock worth $442,000 after buying an additional 102 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $105.76 on Friday. The company’s fifty day moving average is $103.79 and its two-hundred day moving average is $107.47. The company has a market cap of $121.72 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Susquehanna increased their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, 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 report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $136.00.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips 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 completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.