Evansbrook LLC Takes $552,000 Position in ConocoPhillips $COP

Evansbrook LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,894 shares of the energy producer’s stock, valued at approximately $552,000.

Other large investors have also modified their holdings of the company. Nicolet Advisory Services LLC grew its position in ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after purchasing an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC raised its holdings in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after buying an additional 100 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after buying an additional 101 shares during the last quarter. Strategic Blueprint LLC boosted its position in shares of ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after buying an additional 101 shares during the period. Finally, Chesapeake Wealth Management boosted its position in shares of ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other news, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 127,915 shares of company stock worth $16,915,448. 0.09% of the stock is owned by company insiders.

ConocoPhillips Trading Down 3.0%

ConocoPhillips stock opened at $107.92 on Friday. The firm has a 50 day simple moving average of $118.99 and a 200-day simple moving average of $111.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

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

ConocoPhillips Announces Dividend

The company 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. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on COP shares. Truist Financial set a $128.00 price objective on ConocoPhillips in a report on Friday, May 1st. Wolfe Research lifted their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. UBS Group boosted their price target on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Jefferies Financial Group increased their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, Capital One Financial lowered their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Seventeen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $134.48.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
• Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
• Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

About ConocoPhillips

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.