ConocoPhillips (NYSE:COP) Position Trimmed by Highland Capital Management LLC

Highland Capital Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 100,523 shares of the energy producer’s stock after selling 2,367 shares during the period. Highland Capital Management LLC’s holdings in ConocoPhillips were worth $9,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Advisory Alpha LLC raised its stake in ConocoPhillips by 5.2% during the second quarter. Advisory Alpha LLC now owns 9,042 shares of the energy producer’s stock worth $1,034,000 after acquiring an additional 444 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of ConocoPhillips by 7.4% during the second quarter. Cetera Investment Advisers now owns 308,413 shares of the energy producer’s stock worth $35,276,000 after purchasing an additional 21,286 shares during the last quarter. Ariadne Wealth Management LP bought a new stake in shares of ConocoPhillips during the second quarter worth $120,000. New Century Financial Group LLC bought a new position in ConocoPhillips in the second quarter valued at about $383,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in ConocoPhillips in the second quarter valued at about $59,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

NYSE COP opened at $101.49 on Thursday. The business’s 50-day moving average is $102.53 and its 200 day moving average is $106.90. 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 $116.81 billion, a PE ratio of 12.07, a PEG ratio of 0.86 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 issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.53% and a net margin of 17.29%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. Sell-side analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current year.

Analyst Ratings Changes

COP has been the topic of several analyst reports. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company reduced their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $135.89.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was 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.

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.