InterOcean Capital Group LLC Sells 2,029 Shares of ConocoPhillips (NYSE:COP)

InterOcean Capital Group LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,799 shares of the energy producer’s stock after selling 2,029 shares during the period. InterOcean Capital Group LLC’s holdings in ConocoPhillips were worth $789,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $27,000. West Branch Capital LLC raised its holdings 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 acquiring an additional 108 shares in the last quarter. Sachetta LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Oliver Lagore Vanvalin Investment Group lifted its position in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares during the period. Finally, Private Wealth Management Group LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth about $34,000. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Raymond James dropped their target price 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. Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Royal Bank of Canada upped their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company upped 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, May 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Trading Up 0.1 %

Shares of COP stock traded up $0.14 on Thursday, reaching $118.33. The company had a trading volume of 412,304 shares, compared to its average volume of 5,250,611. The stock has a market cap of $138.39 billion, a PE ratio of 13.39, a PEG ratio of 2.65 and a beta of 1.25. The company has a 50-day moving average of $126.02 and a 200-day moving average of $117.74. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $98.38 and a 12 month high of $135.18.

ConocoPhillips Announces Dividend

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 given a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.64%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips 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 sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ConocoPhillips 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 transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders sold 664,350 shares of company stock valued at $83,537,680. 0.34% of the stock is owned by corporate insiders.

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.