ConocoPhillips (NYSE:COP) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,538 shares of the energy producer’s stock after selling 260 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in ConocoPhillips were worth $1,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. Cetera Investment Advisers grew its stake in shares of ConocoPhillips by 4.0% in the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock valued at $2,540,000 after buying an additional 968 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after buying an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. grew its stake in shares of ConocoPhillips by 59.1% in the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after buying an additional 2,465 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COP. Susquehanna dropped their price objective on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Wells Fargo & Company lifted their target price on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. UBS Group lifted their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Piper Sandler decreased their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Finally, Barclays started coverage on ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price for the company. 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. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $140.59.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dominic E. Macklon sold 23,372 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last quarter. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.6 %

COP opened at $129.53 on Wednesday. The business’s 50-day simple moving average is $119.60 and its 200-day simple moving average is $116.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The stock has a market capitalization of $152.38 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 2.83 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Analysts anticipate that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

ConocoPhillips 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.