ConocoPhillips $COP Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY reduced its stake in shares of ConocoPhillips (NYSE:COP) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,304 shares of the energy producer’s stock after selling 4,300 shares during the quarter. Spirit of America Management Corp NY’s holdings in ConocoPhillips were worth $3,211,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of COP. Capital International Investors increased its stake in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares during the period. Fisher Asset Management LLC raised its position in shares of ConocoPhillips by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 14,653,966 shares of the energy producer’s stock worth $1,386,119,000 after buying an additional 260,091 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of ConocoPhillips by 20.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after acquiring an additional 2,216,010 shares during the period. Primecap Management Co. CA lifted its stake in shares of ConocoPhillips by 31.3% in the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after acquiring an additional 2,467,555 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of ConocoPhillips by 1.5% in the third quarter. Legal & General Group Plc now owns 7,304,119 shares of the energy producer’s stock valued at $690,897,000 after acquiring an additional 107,754 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company upped their target price on ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Bank of America reiterated an “underperform” rating and set a $102.00 price target on shares of ConocoPhillips in a research report on Friday, January 16th. Wolfe Research boosted their price objective on ConocoPhillips from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Zacks Research lowered ConocoPhillips from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.16.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the transaction, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 621,670 shares of company stock valued at $78,320,133. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $132.85 on Tuesday. The stock’s fifty day simple moving average is $113.26 and its 200 day simple moving average is $99.44. The stock has a market capitalization of $164.17 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.87 and a beta of 0.27. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips’s dividend payout ratio is currently 53.00%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.