InterOcean Capital Group LLC Cuts Stake in ConocoPhillips (NYSE:COP)

InterOcean Capital Group LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 23.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,799 shares of the energy producer’s stock after selling 2,029 shares during the period. InterOcean Capital Group LLC’s holdings in ConocoPhillips were worth $789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at about $27,000. West Branch Capital LLC boosted its holdings in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group lifted its holdings in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the period. Finally, Private Wealth Management Group LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $34,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP traded up $0.14 during trading on Thursday, hitting $118.33. The company’s stock had a trading volume of 412,304 shares, compared to its average volume of 5,250,611. The business’s 50 day simple moving average is $126.02 and its 200-day simple moving average is $117.74. The firm has a market cap of $138.39 billion, a PE ratio of 13.39, a P/E/G ratio of 2.65 and a beta of 1.25. ConocoPhillips has a one year low of $98.38 and a one year high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.64%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the sale, the executive vice president now directly 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 three months, insiders have sold 664,350 shares of company stock worth $83,537,680. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on COP shares. Susquehanna upped their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Piper Sandler lifted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Royal Bank of Canada raised their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Barclays initiated coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target on the stock. Finally, Truist Financial reduced their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.24.

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.