ConocoPhillips $COP Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 13.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 95,325 shares of the energy producer’s stock after selling 14,675 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in ConocoPhillips were worth $9,017,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in COP. Greenfield Savings Bank increased its holdings in shares of ConocoPhillips by 1.2% in the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after purchasing an additional 108 shares during the period. Perennial Investment Advisors LLC lifted its holdings in shares of ConocoPhillips by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after purchasing an additional 112 shares during the period. FAS Wealth Partners Inc. boosted its position in ConocoPhillips by 0.9% in the second quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock valued at $1,091,000 after buying an additional 112 shares during the last quarter. Strategic Blueprint LLC boosted its position in ConocoPhillips by 1.4% in the third quarter. Strategic Blueprint LLC now owns 7,917 shares of the energy producer’s stock valued at $749,000 after buying an additional 112 shares during the last quarter. Finally, Strathmore Capital Advisors Inc. increased its holdings in ConocoPhillips by 3.5% in the 3rd quarter. Strathmore Capital Advisors Inc. now owns 3,441 shares of the energy producer’s stock worth $325,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the transaction, the senior vice president owned 32,984 shares in the company, valued at approximately $3,893,431.36. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares in the company, valued at $48,847,754.69. This trade represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 549,208 shares of company stock valued at $52,070,430. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $122.00 on Monday. The company has a market cap of $150.76 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.89 and a beta of 0.27. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.50. The company’s 50-day moving average price is $106.62 and its 200-day moving average price is $96.93. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were given a $0.84 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio is 53.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on COP shares. Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating and reduced their price target for the stock from $108.00 to $105.00 in a research report on Friday, December 5th. JPMorgan Chase & Co. upped their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Bank of America reaffirmed an “underperform” rating and set a $102.00 target price on shares of ConocoPhillips in a report on Friday, January 16th. Susquehanna increased their price target on shares of ConocoPhillips from $115.00 to $121.00 and gave the stock a “positive” rating in a report on Friday, February 6th. Finally, UBS Group lifted their price target on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.33.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.