Vise Technologies Inc. Acquires 13,006 Shares of ConocoPhillips $COP

Vise Technologies Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 37.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,062 shares of the energy producer’s stock after purchasing an additional 13,006 shares during the quarter. Vise Technologies Inc.’s holdings in ConocoPhillips were worth $4,499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Verus Capital Partners LLC boosted its position in ConocoPhillips by 7.8% during the fourth quarter. Verus Capital Partners LLC now owns 4,330 shares of the energy producer’s stock worth $405,000 after purchasing an additional 315 shares during the period. TD Asset Management Inc boosted its position in shares of ConocoPhillips by 5.2% in the fourth quarter. TD Asset Management Inc now owns 518,484 shares of the energy producer’s stock valued at $48,535,000 after acquiring an additional 25,785 shares during the period. Cibc World Market Inc. boosted its position in shares of ConocoPhillips by 56.7% in the fourth quarter. Cibc World Market Inc. now owns 512,884 shares of the energy producer’s stock valued at $48,011,000 after acquiring an additional 185,683 shares during the period. Sivia Capital Partners LLC boosted its position in shares of ConocoPhillips by 47.5% in the fourth quarter. Sivia Capital Partners LLC now owns 7,170 shares of the energy producer’s stock valued at $671,000 after acquiring an additional 2,308 shares during the period. Finally, REAP Financial Group LLC boosted its position in shares of ConocoPhillips by 14.0% in the fourth quarter. REAP Financial Group LLC now owns 2,545 shares of the energy producer’s stock valued at $238,000 after acquiring an additional 312 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.8%

COP stock opened at $117.10 on Friday. The company has a market capitalization of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.11. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company’s 50 day moving average price is $122.08 and its two-hundred day moving average price is $109.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted $2.09 earnings per share. As a group, analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Insider Activity

In related news, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at $1,478,751.04. The trade was a 53.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Michael Lance sold 506,800 shares of ConocoPhillips stock in a transaction on Friday, March 20th. The stock was sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the completion of the transaction, the chief executive officer directly owned 6,835 shares in the company, valued at approximately $869,822.10. The trade was a 98.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 694,891 shares of company stock valued at $88,594,092. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Susquehanna raised their price objective on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Sanford C. Bernstein raised their price objective on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a research report on Friday, May 1st. Jefferies Financial Group raised their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Piper Sandler raised their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.48.

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.