First Horizon Advisors Inc. Sells 4,830 Shares of ConocoPhillips (NYSE:COP)

First Horizon Advisors Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,411 shares of the energy producer’s stock after selling 4,830 shares during the quarter. First Horizon Advisors Inc.’s holdings in ConocoPhillips were worth $8,637,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new position in ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC boosted its position in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position in shares of ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 111 shares during the period. Spartan Planning & Wealth Management bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $40,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $46,000. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’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 transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’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 transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

COP remained flat at $122.25 during midday trading on Friday. 5,020,655 shares of the company’s stock traded hands, compared to its average volume of 5,367,984. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm has a market cap of $143.82 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.73 and a beta of 1.25. The firm has a 50 day moving average of $123.63 and a 200-day moving average of $117.75. ConocoPhillips has a 1-year low of $95.81 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the business earned $2.71 EPS. On average, sell-side analysts predict that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders 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 2.55%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s payout ratio is 25.61%.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho reaffirmed a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Truist Financial lowered their target price on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Raymond James decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.76.

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.