Resources Management Corp CT ADV Reduces Holdings in ConocoPhillips $COP

Resources Management Corp CT ADV decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 88.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,113 shares of the energy producer’s stock after selling 44,726 shares during the period. Resources Management Corp CT ADV’s holdings in ConocoPhillips were worth $572,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Victory Capital Management Inc. boosted its position in ConocoPhillips by 14.7% in the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after buying an additional 298,245 shares during the last quarter. Natixis Advisors LLC boosted its position in ConocoPhillips by 8.7% in the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after buying an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after buying an additional 20,501 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in ConocoPhillips in the third quarter valued at approximately $1,892,000. Finally, D.A. Davidson & CO. boosted its position in ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock valued at $14,572,000 after buying an additional 14,833 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 4.1%

ConocoPhillips stock opened at $112.14 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The stock’s 50 day simple moving average is $120.26 and its two-hundred day simple moving average is $110.80. The firm has a market cap of $136.62 billion, a PE ratio of 19.04, a P/E/G ratio of 1.30 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 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 business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.09 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Analyst Ratings Changes

A number of brokerages recently commented on COP. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Mizuho upped their target price on ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Capital One Financial dropped their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Finally, Citigroup upped their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.48.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is highlighting a long-term growth driver in Alaska: its $9 billion Willow project on the North Slope could eventually add about $4 billion in annual incremental cash flow, supporting a goal of doubling free cash flow by 2029. Article Title
• Positive Sentiment: A potential deal with Syria to revive gas production could open a new international growth avenue and expand ConocoPhillips’ upstream opportunities if finalized. Article Title
• Positive Sentiment: News that ConocoPhillips may be the first U.S. energy major to sign with Damascus also suggests management is pursuing higher-risk, higher-reward international projects to rebuild growth. Article Title
• Neutral Sentiment: Short-put activity and option commentary point to continued trading interest in COP, but the note mainly reflects expectations that the stock will keep tracking oil prices. Article Title
• Negative Sentiment: Lower crude prices tied to the U.S.-Iran interim deal pressured the entire energy sector, with ConocoPhillips among the stocks falling as investors priced in weaker near-term pricing power and cash flow. Article Title
• Negative Sentiment: Articles focused on COP’s recent declines framed the move as an oil-market reaction rather than a company-specific issue, which can keep the stock under pressure if crude stays soft. Article Title

Insiders Place Their Bets

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 634,715 shares of company stock worth $81,410,816. Corporate insiders own 0.09% of the company’s stock.

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.