Wedbush Securities Inc. Sells 236 Shares of ConocoPhillips (NYSE:COP)

Wedbush Securities Inc. trimmed its position in ConocoPhillips (NYSE:COP) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,529 shares of the energy producer’s stock after selling 236 shares during the quarter. Wedbush Securities Inc.’s holdings in ConocoPhillips were worth $2,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Albion Financial Group UT lifted its holdings in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the fourth quarter worth about $27,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $86.18 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $108.95 billion, a PE ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83. The company’s 50-day moving average is $98.53 and its two-hundred day moving average is $103.10. ConocoPhillips has a 1 year low of $85.55 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Barclays dropped their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Finally, UBS Group dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

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.