Stack Financial Management Inc Sells 4,070 Shares of ConocoPhillips (NYSE:COP)

Stack Financial Management Inc lowered its stake in shares of ConocoPhillips (NYSE:COP) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,417 shares of the energy producer’s stock after selling 4,070 shares during the quarter. ConocoPhillips comprises 2.4% of Stack Financial Management Inc’s portfolio, making the stock its 14th largest holding. Stack Financial Management Inc’s holdings in ConocoPhillips were worth $21,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in COP. Alphinity Investment Management Pty Ltd acquired a new position in ConocoPhillips during the third quarter worth $310,102,000. Capital Wealth Planning LLC raised its position in shares of ConocoPhillips by 45,426.8% during the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after purchasing an additional 1,425,946 shares during the period. Bank of New York Mellon Corp grew its position in ConocoPhillips by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after purchasing an additional 1,152,907 shares in the last quarter. International Assets Investment Management LLC raised its holdings in ConocoPhillips by 13,905.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after acquiring an additional 1,106,305 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $99,676,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 over the last three months. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Mizuho restated a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Raymond James reduced their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. UBS Group increased their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Barclays assumed coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Finally, Piper Sandler lifted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Price Performance

NYSE COP remained flat at $130.11 on Friday. 1,428,075 shares of the company’s stock were exchanged, compared to its average volume of 5,304,639. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The stock has a market cap of $153.06 billion, a PE ratio of 14.27, a PEG ratio of 2.70 and a beta of 1.24. The stock’s 50 day moving average is $122.10 and its 200 day moving average is $117.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the business posted $2.71 EPS. On average, research analysts expect that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

ConocoPhillips Profile

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.