Pinnacle Wealth Management Advisory Group LLC Sells 496 Shares of ConocoPhillips (NYSE:COP)

Pinnacle Wealth Management Advisory Group LLC lessened its stake in ConocoPhillips (NYSE:COP) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,649 shares of the energy producer’s stock after selling 496 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in ConocoPhillips were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $27,000. West Branch Capital LLC boosted its position in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares in the last quarter. Spartan Planning & Wealth Management bought a new position in ConocoPhillips during the 3rd quarter valued at about $40,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $46,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. Barclays started coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. UBS Group lifted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Truist Financial lowered their target price on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Raymond James cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Piper Sandler raised their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.76.

ConocoPhillips Price Performance

COP stock traded down $0.48 during midday trading on Wednesday, hitting $123.06. The company’s stock had a trading volume of 4,170,122 shares, compared to its average volume of 5,355,125. The firm has a market capitalization of $143.92 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $97.42 and a 12 month high of $135.18. The company has a 50 day moving average of $124.31 and a two-hundred day moving average of $117.59.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the company posted $2.71 earnings per share. On average, analysts expect that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

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.