Norden Group LLC Has $528,000 Stock Position in ConocoPhillips (NYSE:COP)

Norden Group LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 20.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,550 shares of the energy producer’s stock after selling 1,189 shares during the quarter. Norden Group LLC’s holdings in ConocoPhillips were worth $528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alphinity Investment Management Pty Ltd bought a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $310,102,000. Capital Wealth Planning LLC increased its holdings in shares of ConocoPhillips by 45,426.8% in the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after purchasing an additional 1,425,946 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 period. International Assets Investment Management LLC lifted its position 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 during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of ConocoPhillips during the third 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 firm’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 the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. 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.

Analysts Set New Price Targets

A number of research analysts have commented on COP shares. Piper Sandler upped their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. UBS Group boosted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Finally, Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $125.62 on Wednesday. The firm’s fifty day moving average is $123.20 and its 200-day moving average is $117.67. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18. The firm has a market cap of $147.78 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (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 last year, the business earned $2.71 EPS. Sell-side analysts predict that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.48%. ConocoPhillips’s payout ratio is presently 25.61%.

ConocoPhillips Company 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.