Altfest L J & Co. Inc. Sells 3,515 Shares of ConocoPhillips (NYSE:COP)

Altfest L J & Co. Inc. lessened its position in ConocoPhillips (NYSE:COP) by 30.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,865 shares of the energy producer’s stock after selling 3,515 shares during the quarter. Altfest L J & Co. Inc.’s holdings in ConocoPhillips were worth $913,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in shares of ConocoPhillips in the 2nd quarter worth about $5,592,000. Guidance Capital Inc. bought a new stake in ConocoPhillips during the 2nd quarter valued at about $599,000. Bollard Group LLC lifted its holdings in ConocoPhillips by 1.0% during the 2nd quarter. Bollard Group LLC now owns 130,043 shares of the energy producer’s stock valued at $13,474,000 after buying an additional 1,233 shares in the last quarter. Capital Investment Counsel Inc bought a new stake in ConocoPhillips during the 3rd quarter valued at about $228,000. Finally, Columbia Trust Co 01012016 lifted its holdings in ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after buying an additional 112 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho reiterated a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Piper Sandler decreased their price objective on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Susquehanna cut their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a research report on Friday, December 8th. Finally, Raymond James cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $135.12.

ConocoPhillips Stock Performance

NYSE:COP traded up $0.57 during trading hours on Thursday, hitting $127.41. 1,522,552 shares of the company were exchanged, compared to its average volume of 5,723,507. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $128.64. The company’s 50 day moving average price is $113.49 and its 200-day moving average price is $116.01. The stock has a market capitalization of $149.89 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the previous year, the business posted $2.71 EPS. As a group, research analysts forecast that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.45%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.37% of the company’s stock.

ConocoPhillips Company 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.