Stokes Family Office LLC Cuts Holdings in ConocoPhillips (NYSE:COP)

Stokes Family Office LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 56.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,991 shares of the energy producer’s stock after selling 2,618 shares during the period. Stokes Family Office LLC’s holdings in ConocoPhillips were worth $231,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Investment Counsel Inc purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $228,000. Columbia Trust Co 01012016 raised its stake in shares of ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares in the last quarter. Raymond James & Associates grew its holdings in shares of ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after acquiring an additional 23,572 shares during the period. Syon Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $2,262,000. Finally, PFG Investments LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $233,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna upped their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. UBS Group upped their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley upped their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Piper Sandler increased their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Scotiabank increased their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $142.76.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP traded down $0.02 during trading on Friday, hitting $122.23. 5,020,657 shares of the company traded hands, compared to its average volume of 4,434,834. The firm has a market capitalization of $143.79 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $123.63 and a 200-day moving average price of $117.75. ConocoPhillips has a 1 year low of $95.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period last year, the business posted $2.71 EPS. On average, equities analysts predict that ConocoPhillips will post 9.11 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

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.