Islay Capital Management LLC Cuts Stock Position in ConocoPhillips (NYSE:COP)

Islay Capital Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,976 shares of the energy producer’s stock after selling 327 shares during the quarter. ConocoPhillips accounts for approximately 1.3% of Islay Capital Management LLC’s holdings, making the stock its 18th biggest position. Islay Capital Management LLC’s holdings in ConocoPhillips were worth $1,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penobscot Investment Management Company Inc. lifted its holdings in shares of ConocoPhillips by 5.3% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 8,047 shares of the energy producer’s stock valued at $934,000 after buying an additional 403 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of ConocoPhillips by 2.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 32,228 shares of the energy producer’s stock valued at $3,741,000 after purchasing an additional 687 shares in the last quarter. Intrust Bank NA lifted its stake in shares of ConocoPhillips by 2.5% in the fourth quarter. Intrust Bank NA now owns 59,357 shares of the energy producer’s stock valued at $6,890,000 after purchasing an additional 1,449 shares during the period. Naviter Wealth LLC boosted its holdings in ConocoPhillips by 10.3% during the fourth quarter. Naviter Wealth LLC now owns 23,553 shares of the energy producer’s stock worth $2,734,000 after buying an additional 2,190 shares in the last quarter. Finally, Investment House LLC grew its position in ConocoPhillips by 4.7% during the fourth quarter. Investment House LLC now owns 2,775 shares of the energy producer’s stock worth $322,000 after buying an additional 125 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was 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 in the company, valued at $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’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 $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was 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. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on COP. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Raymond James dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. UBS Group lifted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, Mizuho restated 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. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.65.

ConocoPhillips Trading Down 2.6 %

COP stock traded down $3.41 during trading on Tuesday, reaching $126.81. 2,258,022 shares of the stock traded hands, compared to its average volume of 5,292,793. The business’s 50 day moving average price is $122.88 and its 200-day moving average price is $117.67. The firm has a market capitalization of $149.18 billion, a PE ratio of 14.37, a P/E/G ratio of 2.72 and a beta of 1.24. 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 52-week low of $95.70 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter last year, the firm posted $2.71 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.46%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

ConocoPhillips 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.