Weatherly Asset Management L. P. Has $6.51 Million Position in ConocoPhillips (NYSE:COP)

Weatherly Asset Management L. P. lowered its position in shares of ConocoPhillips (NYSE:COP) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 56,098 shares of the energy producer’s stock after selling 2,973 shares during the period. Weatherly Asset Management L. P.’s holdings in ConocoPhillips were worth $6,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Norris Perne & French LLP MI raised its holdings in ConocoPhillips by 1.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after buying an additional 80 shares during the last quarter. Sloy Dahl & Holst LLC raised its holdings in ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after purchasing an additional 85 shares during the last quarter. KLCM Advisors Inc. raised its holdings in ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after purchasing an additional 89 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after purchasing an additional 89 shares during the last quarter. Finally, Endowment Wealth Management Inc. raised its holdings in ConocoPhillips by 4.6% during the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction on 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 sale, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. UBS Group raised their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Mizuho reaffirmed a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. 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 research report on Thursday, April 18th. Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Five investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Up 0.4 %

COP traded up $0.50 during mid-day trading on Tuesday, reaching $129.83. 3,773,534 shares of the stock were exchanged, compared to its average volume of 5,397,009. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a market capitalization of $152.73 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. The company has a 50 day moving average price of $120.93 and a two-hundred day moving average price of $117.31. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the previous year, the firm earned $2.71 EPS. As a group, research analysts anticipate that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is currently 25.61%.

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.