Hi Line Capital Management LLC Boosts Stake in ConocoPhillips $COP

Hi Line Capital Management LLC raised its position in ConocoPhillips (NYSE:COP) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,600 shares of the energy producer’s stock after acquiring an additional 5,759 shares during the quarter. ConocoPhillips makes up 3.3% of Hi Line Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Hi Line Capital Management LLC’s holdings in ConocoPhillips were worth $9,979,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COP. Cloud Capital Management LLC bought a new position in ConocoPhillips in the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips in the third quarter valued at about $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Strive Asset Management LLC bought a new position in ConocoPhillips in the third quarter valued at about $28,000. Finally, BNP Paribas bought a new position in ConocoPhillips in the second quarter valued at about $33,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler increased their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Sanford C. Bernstein upped their price target on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. The Goldman Sachs Group upped their price target on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Mizuho upped their price target on ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, UBS Group upped their price target on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen 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, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $133.12.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales agreement tied to the Alaska LNG project, giving the company long-duration visibility on gas volumes and strengthening the investment case for its Alaska assets. ConocoPhillips Alaska LNG Deal Extends Gas Visibility And Valuation Debate
• Positive Sentiment: Reuters reported that delays in ConocoPhillips’ Qatar gas joint ventures are expected to be measured in months rather than years, which reduces concern around the timing of future LNG growth. ConocoPhillips expects Qatar gas JVs delays of months, not years
• Positive Sentiment: Analysts and screeners highlighted COP as a high-ROE name, a momentum stock, and a company with rising earnings estimates, all of which can support investor demand for the shares. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?
• Positive Sentiment: Jefferies reportedly set a new $161 price target for COP, reinforcing a constructive Wall Street view on the stock. ConocoPhillips Given New $161.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Several articles were more about COP’s standing versus peers or general broker sentiment, offering context but little immediate new catalyst. ConocoPhillips (COP) Is Considered a Good Investment by Brokers: Is That True? Occidental Petroleum Stock Is Up 45% This Year…
• Negative Sentiment: Despite the positive longer-term narrative, COP also tracked a broader market pullback and energy volatility, which may have contributed to the stock’s softer tone in the latest trading session. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump

ConocoPhillips Stock Performance

Shares of COP opened at $122.33 on Thursday. 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 has a 52 week low of $84.28 and a 52 week high of $135.87. The business has a 50-day simple moving average of $123.48 and a two-hundred day simple moving average of $107.14. The stock has a market cap of $149.04 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.44 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the business posted $2.09 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 9.63 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 14,522 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,478,751.04. This trade represents a 53.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the transaction, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This represents a 66.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 734,891 shares of company stock worth $93,345,692 over the last three months. 0.09% of the stock is owned by company insiders.

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.