ConocoPhillips $COP Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,734 shares of the energy producer’s stock after selling 6,255 shares during the period. Intech Investment Management LLC’s holdings in ConocoPhillips were worth $3,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Duncan Williams Asset Management LLC lifted its stake in ConocoPhillips by 4.4% during the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after acquiring an additional 100 shares during the period. Wedge Capital Management L L P NC lifted its stake in ConocoPhillips by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after acquiring an additional 101 shares during the period. Strategic Blueprint LLC lifted its stake in ConocoPhillips by 1.3% during the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after acquiring an additional 101 shares during the period. Chesapeake Wealth Management lifted its stake in ConocoPhillips by 1.5% during the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after acquiring an additional 103 shares during the period. Finally, Oregon Pacific Wealth Management LLC lifted its stake in ConocoPhillips by 4.5% during the 4th quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after acquiring an additional 104 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE:COP opened at $115.42 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company has a fifty day moving average of $122.88 and a two-hundred day moving average of $108.78. The stock has a market capitalization of $140.62 billion, a PE ratio of 19.60, a P/E/G ratio of 1.28 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.23 and a fifty-two week high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Insiders Place Their Bets

In other news, EVP Nicholas G. Olds sold 6,994 shares of the 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 sale, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. This represents a 56.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 734,891 shares of company stock valued at $93,345,692. Corporate insiders own 0.09% of the company’s stock.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Several analysts have recently raised their price targets on ConocoPhillips, including Barclays and Raymond James, while maintaining bullish or positive ratings, signaling continued Wall Street confidence in the company’s valuation and long-term earnings potential. Barclays Raises PT on ConocoPhillips (COP) Stock
• Positive Sentiment: ConocoPhillips was highlighted by hedge-fund and market-screening articles as one of the better oil and gas names to own, with analysts pointing to its deep resource base and LNG portfolio as key strengths. ConocoPhillips (COP) – Among the 14 Best Oil and Gas Stocks to Buy According to Hedge Funds
• Positive Sentiment: Alaska lease-sale news is supportive for ConocoPhillips because the company was among the record bidders, and the expected boost in Alaskan oil production could improve future upstream opportunities for the industry. Alaskan frontier oil boom bodes well for energy industry
• Neutral Sentiment: Market commentary says ConocoPhillips has underperformed the Nasdaq over the past year, but this was balanced by the fact that analysts remain moderately optimistic and maintain a consensus “Moderate Buy” view. Is ConocoPhillips Stock Underperforming the Nasdaq?

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. UBS Group boosted their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Scotiabank boosted their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Roth Mkm cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips 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.