Meyer Handelman Co. Boosts Stake in ConocoPhillips $COP

Meyer Handelman Co. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,790 shares of the energy producer’s stock after purchasing an additional 10,116 shares during the quarter. Meyer Handelman Co.’s holdings in ConocoPhillips were worth $15,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Howard Hughes Medical Institute purchased a new position in ConocoPhillips in the 2nd quarter worth about $25,000. Cloud Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of ConocoPhillips in the third quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $28,000. Finally, Strive Asset Management LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $28,000. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 506,800 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the completion of the sale, the chief executive officer owned 6,835 shares in the company, valued at $869,822.10. This represents a 98.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the transaction, the executive vice president directly owned 12,389 shares in the company, valued at approximately $1,478,751.04. The trade was a 53.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 621,670 shares of company stock worth $78,320,133 in the last quarter. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COP. JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Raymond James Financial lifted their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a research note on Tuesday, February 17th. Morgan Stanley raised their price target on ConocoPhillips from $108.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Finally, Citigroup lifted their price objective on ConocoPhillips from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.16.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $132.02 on Wednesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $135.87. The firm has a market capitalization of $163.14 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.27. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $113.99 and a 200 day moving average of $99.71.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.21). The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.