ConocoPhillips (NYSE:COP) Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc lowered its position in shares of ConocoPhillips (NYSE:COP) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 186,417 shares of the energy producer’s stock after selling 4,070 shares during the period. ConocoPhillips accounts for approximately 2.4% of Stack Financial Management Inc’s holdings, making the stock its 14th largest holding. Stack Financial Management Inc’s holdings in ConocoPhillips were worth $21,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. RFG Advisory LLC boosted its holdings in shares of ConocoPhillips by 14.4% during the third quarter. RFG Advisory LLC now owns 5,077 shares of the energy producer’s stock valued at $608,000 after acquiring an additional 640 shares during the period. Park Place Capital Corp raised its holdings in ConocoPhillips by 12.9% during the 3rd quarter. Park Place Capital Corp now owns 4,377 shares of the energy producer’s stock worth $524,000 after buying an additional 499 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in ConocoPhillips during the 3rd quarter worth about $44,000. Washington Trust Advisors Inc. raised its holdings in ConocoPhillips by 211.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 442 shares of the energy producer’s stock worth $53,000 after buying an additional 300 shares during the period. Finally, Marion Wealth Management increased its holdings in shares of ConocoPhillips by 1.2% in the 3rd quarter. Marion Wealth Management now owns 11,157 shares of the energy producer’s stock valued at $1,337,000 after purchasing an additional 136 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Susquehanna increased their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday. Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target on the stock. Wells Fargo & Company raised their target price on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Finally, Scotiabank raised their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Five investment 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 stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly 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 700,775 shares of company stock worth $87,615,169 over the last 90 days. 0.34% of the stock is owned by company insiders.

ConocoPhillips Price Performance

NYSE:COP remained flat at $130.11 during trading hours on Friday. 1,428,075 shares of the company’s stock traded hands, compared to its average volume of 5,304,639. The business’s 50 day moving average price is $122.10 and its 200 day moving average price is $117.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18. The stock has a market cap of $153.06 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24.

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

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. ConocoPhillips’s payout ratio is presently 25.61%.

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.