ConocoPhillips (NYSE:COP) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. reduced its stake in ConocoPhillips (NYSE:COP) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,580 shares of the energy producer’s stock after selling 161 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in ConocoPhillips were worth $1,049,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in ConocoPhillips by 18.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,648 shares of the energy producer’s stock worth $174,000 after buying an additional 253 shares during the period. United Advisor Group LLC increased its stake in ConocoPhillips by 33.4% during the 3rd quarter. United Advisor Group LLC now owns 2,454 shares of the energy producer’s stock worth $258,000 after buying an additional 614 shares during the period. Pittenger & Anderson Inc. increased its stake in ConocoPhillips by 17.5% during the 3rd quarter. Pittenger & Anderson Inc. now owns 2,305 shares of the energy producer’s stock worth $243,000 after buying an additional 344 shares during the period. Crestwood Advisors Group LLC increased its stake in ConocoPhillips by 1.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 6,420 shares of the energy producer’s stock worth $676,000 after buying an additional 105 shares during the period. Finally, HF Advisory Group LLC increased its stake in ConocoPhillips by 44.3% during the 3rd quarter. HF Advisory Group LLC now owns 14,504 shares of the energy producer’s stock worth $1,527,000 after buying an additional 4,452 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Piper Sandler dropped their price objective 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. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Trading Down 1.8 %

NYSE COP opened at $88.98 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm’s fifty day moving average price is $99.82 and its 200 day moving average price is $104.64. The company has a market capitalization of $113.21 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend 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.