Todd Asset Management LLC Trims Stake in ConocoPhillips (NYSE:COP)

Todd Asset Management LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 259,105 shares of the energy producer’s stock after selling 2,441 shares during the quarter. Todd Asset Management LLC’s holdings in ConocoPhillips were worth $30,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth $27,000. West Branch Capital LLC increased its holdings in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $40,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

COP traded down $0.02 during trading on Friday, reaching $122.23. 5,020,657 shares of the company’s stock were exchanged, compared to its average volume of 4,434,834. ConocoPhillips has a fifty-two week low of $95.81 and a fifty-two week high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $123.85 and a 200 day moving average price of $117.73. 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 (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the previous year, the company earned $2.71 EPS. As a group, analysts predict that ConocoPhillips will post 9.1 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group lifted 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. Truist Financial lowered their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a report on Monday, April 29th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Susquehanna lifted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Five 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.