ConocoPhillips (NYSE:COP) Shares Sold by Safeguard Financial LLC

Safeguard Financial LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,682 shares of the energy producer’s stock after selling 579 shares during the period. Safeguard Financial LLC’s holdings in ConocoPhillips were worth $660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tyche Wealth Partners LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter worth about $872,000. Avior Wealth Management LLC boosted its position in shares of ConocoPhillips by 3.2% in the 4th quarter. Avior Wealth Management LLC now owns 25,860 shares of the energy producer’s stock worth $3,002,000 after buying an additional 809 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ConocoPhillips by 4.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639,087 shares of the energy producer’s stock worth $74,179,000 after buying an additional 24,916 shares in the last quarter. Imprint Wealth LLC boosted its position in shares of ConocoPhillips by 1.6% in the 4th quarter. Imprint Wealth LLC now owns 6,334 shares of the energy producer’s stock worth $734,000 after buying an additional 101 shares in the last quarter. Finally, Peirce Capital Management LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter worth about $316,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.6 %

COP traded down $0.72 on Tuesday, reaching $129.53. 3,875,625 shares of the company’s stock were exchanged, compared to its average volume of 5,500,706. The company’s 50 day moving average is $119.24 and its 200-day moving average is $116.86. The company has a market cap of $152.38 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.85 and a beta of 1.24. ConocoPhillips has a twelve month low of $95.70 and a twelve month 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 posted 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. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the company earned $2.71 EPS. Equities analysts predict that ConocoPhillips will post 9.21 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 25.61%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. Barclays assumed coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Raymond James reduced their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Piper Sandler reduced their target price on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Morgan Stanley upped their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Mizuho restated a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $140.59.

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.