Carret Asset Management LLC Sells 5,425 Shares of ConocoPhillips $COP

Carret Asset Management LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,095 shares of the energy producer’s stock after selling 5,425 shares during the period. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $1,226,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips during the 4th quarter worth approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips during the 3rd quarter worth approximately $28,000. Sfam LLC purchased a new position in ConocoPhillips in the 4th quarter worth approximately $34,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.9%

Shares of NYSE:COP opened at $111.22 on Wednesday. The firm has a market capitalization of $135.50 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.24 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a 50 day moving average price of $119.87 and a 200-day moving average price of $110.97. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 earnings per share. As a group, equities research analysts anticipate that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a deal with Syria’s state oil company and Novaterra to revive gas production and develop new fields, which could add long-term production opportunities and improve growth prospects. Syria signs deal with ConocoPhillips, Novaterra to revive gas production
• Positive Sentiment: Investors are also focused on ConocoPhillips’ Alaska North Slope strategy, including the Willow project, which could eventually add meaningful free cash flow if it reaches full production. This Top Oil Stock Expects an Unlikely Source to Help It Double Its Free Cash Flow by 2029.
• Neutral Sentiment: Energy-sector selling has been broad-based, with the NYSE Energy Sector Index falling in afternoon trading, suggesting COP’s move is being driven more by sector weakness than by a company-specific setback. Sector Update: Energy Stocks Decline Late Afternoon
• Negative Sentiment: Lower oil prices after the U.S.-Iran interim peace deal have weighed on ConocoPhillips and other oil producers, reducing near-term expectations for upstream earnings and cash flow. Oil Prices Slump, Exxon and Chevron Stocks Drop After Trump Iran Deal

Insider Buying and Selling

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the transaction, the executive vice president owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 634,715 shares of company stock worth $81,410,816 in the last three months. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. Roth Mkm lowered ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research note on Tuesday, February 17th. Barclays upped their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Citigroup raised their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $134.48.

About ConocoPhillips

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.