Kornitzer Capital Management Inc. KS Has $63.40 Million Holdings in ConocoPhillips (NYSE:COP)

Kornitzer Capital Management Inc. KS lessened its position in shares of ConocoPhillips (NYSE:COP) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 546,210 shares of the energy producer’s stock after selling 2,810 shares during the quarter. ConocoPhillips accounts for approximately 1.2% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 11th largest holding. Kornitzer Capital Management Inc. KS’s holdings in ConocoPhillips were worth $63,399,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of COP. Orion Capital Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $27,000. West Branch Capital LLC boosted its stake in 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 buying an additional 108 shares in the last quarter. RVW Wealth LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. Fairfield Bush & CO. acquired a new stake in ConocoPhillips in the 1st quarter valued at $31,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in 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 buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related 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 sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 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 directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Up 1.2 %

COP stock opened at $129.38 on Friday. The business has a fifty day moving average of $120.56 and a 200-day moving average of $117.17. The company has a market cap of $152.20 billion, a P/E ratio of 14.28, a PEG ratio of 2.77 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the company posted $2.71 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on COP. Morgan Stanley boosted their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Truist Financial reduced their price objective on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. UBS Group boosted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Barclays initiated coverage on ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Finally, Susquehanna reduced their price objective on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Five equities research 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. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

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.