Bryn Mawr Capital Management LLC Has $16.44 Million Stock Position in ConocoPhillips (NYSE:COP)

Bryn Mawr Capital Management LLC lowered its stake in ConocoPhillips (NYSE:COP) by 33.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,666 shares of the energy producer’s stock after selling 69,661 shares during the quarter. ConocoPhillips comprises approximately 1.0% of Bryn Mawr Capital Management LLC’s holdings, making the stock its 20th largest holding. Bryn Mawr Capital Management LLC’s holdings in ConocoPhillips were worth $16,443,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Northern Trust Corp increased its position in shares of ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ConocoPhillips by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after buying an additional 1,152,907 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of ConocoPhillips by 1.1% during the 3rd quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock worth $848,984,000 after buying an additional 74,278 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock worth $775,416,000 after buying an additional 33,466 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

Shares of COP opened at $130.23 on Friday. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18. The firm’s 50 day moving average is $122.49 and its 200-day moving average is $117.64. The stock has a market capitalization of $153.20 billion, a PE ratio of 14.37, a P/E/G ratio of 2.72 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the firm earned $2.71 earnings per share. Equities research analysts forecast 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 paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Susquehanna increased their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Scotiabank raised their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. 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 a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value 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 $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by insiders.

About ConocoPhillips

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.