Profund Advisors LLC Trims Holdings in ConocoPhillips $COP

Profund Advisors LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,813 shares of the energy producer’s stock after selling 6,736 shares during the period. Profund Advisors LLC’s holdings in ConocoPhillips were worth $3,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Duncan Williams Asset Management LLC increased its stake in ConocoPhillips by 4.4% in the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares during the period. Wedge Capital Management L L P NC increased its stake in ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after purchasing an additional 101 shares during the period. Strategic Blueprint LLC increased its stake in ConocoPhillips by 1.3% in the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after purchasing an additional 101 shares during the period. Chesapeake Wealth Management increased its stake in ConocoPhillips by 1.5% in the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after purchasing an additional 103 shares during the period. Finally, Oregon Pacific Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.5% during the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $125.16 on Wednesday. ConocoPhillips has a 1-year low of $84.28 and a 1-year high of $135.87. The stock’s 50-day moving average is $123.37 and its 200 day moving average is $106.90. The company has a market cap of $152.49 billion, a P/E ratio of 21.25, a PEG ratio of 1.44 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 9.63 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Insider Activity

In related news, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president directly owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Roth Mkm lowered ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research note on Tuesday, February 17th. Sanford C. Bernstein raised their price target on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Piper Sandler raised their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Raymond James Financial raised their price target on ConocoPhillips from $118.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, Morgan Stanley raised their price target on ConocoPhillips from $108.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ long-term gas supply agreement for the Alaska LNG project adds durable volume visibility and reinforces the company’s role in a large-scale energy infrastructure project. Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Reuters reported that the Alaska LNG project now has enough supply commitments to support a final investment decision for Phase One, which reduces project uncertainty and could improve sentiment toward COP. Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 and reiterated a Buy rating, signaling continued Wall Street confidence in the stock’s upside. Jefferies adjusts price target on ConocoPhillips
• Positive Sentiment: Articles highlighting rising earnings estimates and momentum-stock characteristics suggest analysts see improving near-term fundamentals, which can support the shares. Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?

ConocoPhillips Company 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.