ConocoPhillips $COP Shares Sold by SCP Investment LP

SCP Investment LP lowered its stake in ConocoPhillips (NYSE:COP) by 82.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,800 shares of the energy producer’s stock after selling 12,868 shares during the period. SCP Investment LP’s holdings in ConocoPhillips were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COP. KERR FINANCIAL PLANNING Corp acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the 4th quarter valued at about $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at about $28,000. BNP Paribas acquired a new position in shares of ConocoPhillips in the second quarter valued at about $33,000. Finally, Optima Capital LLC purchased a new position in shares of ConocoPhillips in the fourth quarter worth about $34,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 1.0%

ConocoPhillips stock opened at $116.78 on Wednesday. The firm has a market cap of $142.27 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. ConocoPhillips has a 52 week low of $85.23 and a 52 week high of $135.87. The business’s 50-day moving average price is $122.88 and its 200 day moving average price is $108.78. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.92 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction on Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas G. Olds sold 14,522 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. This trade represents a 53.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 734,891 shares of company stock worth $93,345,692. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Truist Financial set a $128.00 target price on ConocoPhillips in a report on Friday, May 1st. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Scotiabank lifted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Sanford C. Bernstein increased their price objective on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips Company 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.