ConocoPhillips (NYSE:COP) Shares Purchased by ProVise Management Group LLC

ProVise Management Group LLC raised its holdings in ConocoPhillips (NYSE:COP) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,412 shares of the energy producer’s stock after acquiring an additional 3,233 shares during the quarter. ProVise Management Group LLC’s holdings in ConocoPhillips were worth $5,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC raised its position 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 ConocoPhillips during the 4th quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of ConocoPhillips by 63.1% during 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 last quarter. Finally, Private Wealth Management Group LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, 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 of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 664,350 shares of company stock valued at $83,537,680. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COP shares. Barclays began coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective for the company. Susquehanna increased their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Truist Financial decreased their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, April 29th. UBS Group increased their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley lifted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five research 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 stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $0.40 during trading on Friday, hitting $117.25. 2,851,101 shares of the company’s stock were exchanged, compared to its average volume of 5,260,977. The stock has a market capitalization of $137.13 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.60 and a beta of 1.25. The business has a 50-day simple moving average of $125.98 and a 200-day simple moving average of $117.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a 52-week low of $98.38 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, research analysts forecast that ConocoPhillips will post 9.09 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.66%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.