ConocoPhillips (NYSE:COP) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC lowered its stake in ConocoPhillips (NYSE:COP) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,218 shares of the energy producer’s stock after selling 460 shares during the period. Hexagon Capital Partners LLC’s holdings in ConocoPhillips were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Sloy Dahl & Holst LLC raised its position in ConocoPhillips by 3.3% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 85 shares in the last quarter. KLCM Advisors Inc. raised its position in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after acquiring an additional 89 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after acquiring an additional 89 shares in the last quarter. Endowment Wealth Management Inc. raised its position in shares of ConocoPhillips by 4.6% during the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after acquiring an additional 90 shares in the last quarter. Finally, Your Advocates Ltd. LLP raised its position in shares of ConocoPhillips by 2.9% during the 3rd quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock worth $400,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 over the last three months. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

COP stock traded down $4.60 during midday trading on Tuesday, hitting $125.62. 6,288,234 shares of the stock were exchanged, compared to its average volume of 5,343,554. The stock’s 50-day moving average price is $123.20 and its 200-day moving average price is $117.67. The stock has a market cap of $147.78 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.72 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. Research analysts predict that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is 25.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COP shares. Susquehanna raised their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Truist Financial lowered their target price on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler lifted their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, UBS Group lifted their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips Profile

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.