Norden Group LLC Cuts Stake in ConocoPhillips (NYSE:COP)

Norden Group LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,550 shares of the energy producer’s stock after selling 1,189 shares during the period. Norden Group LLC’s holdings in ConocoPhillips were worth $528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Investment Counsel Inc acquired a new stake in ConocoPhillips in the 3rd quarter worth approximately $228,000. Columbia Trust Co 01012016 grew its holdings in shares of ConocoPhillips by 1.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after buying an additional 112 shares during the last quarter. Raymond James & Associates lifted its position in ConocoPhillips by 1.5% during the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after acquiring an additional 23,572 shares during the period. Syon Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at about $2,262,000. Finally, PFG Investments LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $233,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COP. Barclays began coverage on ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price on the stock. Scotiabank raised their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Susquehanna upped their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Raymond James reduced their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Five investment 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 company’s stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $142.65.

Insider Activity

In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

NYSE COP opened at $125.62 on Wednesday. The company has a market cap of $147.78 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.24. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The stock has a 50-day moving average of $123.20 and a two-hundred day moving average of $117.67.

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

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.48%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

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.