Metis Global Partners LLC Has $5.34 Million Holdings in ConocoPhillips (NYSE:COP)

Metis Global Partners LLC decreased its stake in ConocoPhillips (NYSE:COP) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,039 shares of the energy producer’s stock after selling 3,350 shares during the period. Metis Global Partners LLC’s holdings in ConocoPhillips were worth $5,344,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Northern Trust Corp grew its stake in shares of ConocoPhillips by 3.2% in the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares during the period. Fisher Asset Management LLC lifted its position in ConocoPhillips by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after acquiring an additional 204,714 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of ConocoPhillips by 1.1% during the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock worth $848,984,000 after acquiring an additional 74,278 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ConocoPhillips by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock valued at $775,416,000 after purchasing an additional 33,466 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank lifted their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday. Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler boosted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Five equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.76.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips 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 sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on 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 owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

NYSE:COP traded down $0.02 during trading hours on Friday, hitting $122.23. The company’s stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.29. The company has a market capitalization of $143.79 billion, a P/E ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25. ConocoPhillips has a twelve month low of $95.81 and a twelve month high of $135.18. The stock has a fifty day simple moving average of $123.85 and a 200-day simple moving average of $117.61.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. During the same period in the previous year, the firm posted $2.71 EPS. On average, analysts anticipate that ConocoPhillips will post 9.1 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company 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 $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

ConocoPhillips Company 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.