ConocoPhillips (NYSE:COP) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC lowered its stake in ConocoPhillips (NYSE:COP) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,145 shares of the energy producer’s stock after selling 204 shares during the quarter. Connectus Wealth LLC’s holdings in ConocoPhillips were worth $4,660,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC grew its stake in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. lifted its stake in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on COP shares. Susquehanna boosted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley increased their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays upped their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. UBS Group boosted their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Truist Financial increased their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $144.35.

Insider Buying and Selling at ConocoPhillips

In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were 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 in the company, valued at approximately $5,444,947.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold a total of 664,350 shares of company stock worth $83,537,680 in the last quarter. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 0.2 %

Shares of COP traded down $0.20 on Friday, hitting $112.00. 4,375,865 shares of the stock traded hands, compared to its average volume of 5,823,935. The firm has a market capitalization of $130.99 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.51 and a beta of 1.22. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The stock’s 50 day moving average is $123.91 and its two-hundred day moving average is $117.73.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. As a group, sell-side analysts predict that ConocoPhillips will post 8.93 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.