ConocoPhillips (NYSE:COP) Shares Sold by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC cut its stake in ConocoPhillips (NYSE:COP) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,664 shares of the energy producer’s stock after selling 211 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in ConocoPhillips were worth $1,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TCG Advisory Services LLC raised its stake in shares of ConocoPhillips by 39.2% in the fourth quarter. TCG Advisory Services LLC now owns 20,562 shares of the energy producer’s stock valued at $2,387,000 after acquiring an additional 5,791 shares in the last quarter. First National Trust Co increased its position in shares of ConocoPhillips by 4.0% in the 4th quarter. First National Trust Co now owns 15,129 shares of the energy producer’s stock valued at $1,756,000 after purchasing an additional 576 shares during the last quarter. Royal Fund Management LLC lifted its position in shares of ConocoPhillips by 7.8% during the 4th quarter. Royal Fund Management LLC now owns 3,144 shares of the energy producer’s stock worth $365,000 after purchasing an additional 227 shares during the last quarter. AJOVista LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $193,000. Finally, Provence Wealth Management Group grew its stake in shares of ConocoPhillips by 10.1% during the fourth quarter. Provence Wealth Management Group now owns 5,711 shares of the energy producer’s stock worth $663,000 after purchasing an additional 524 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In related news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.02 during midday trading on Friday, hitting $122.23. The stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The company has a market capitalization of $143.79 billion, a PE ratio of 13.84, a P/E/G ratio of 2.68 and a beta of 1.25. ConocoPhillips has a 1 year low of $95.81 and a 1 year high of $135.18. The stock has a 50 day moving average price of $123.85 and a two-hundred day moving average price of $117.61. The company has a current ratio of 1.35, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the prior year, the business posted $2.71 EPS. As a group, equities analysts predict that ConocoPhillips will post 9.1 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COP. Wells Fargo & Company lifted their price target on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group boosted their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Mizuho reissued a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Barclays began coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.76.

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.