ConocoPhillips (NYSE:COP) Shares Sold by Eley Financial Management Inc

Eley Financial Management Inc cut its stake in ConocoPhillips (NYSE:COP) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,894 shares of the energy producer’s stock after selling 149 shares during the period. Eley Financial Management Inc’s holdings in ConocoPhillips were worth $1,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norris Perne & French LLP MI boosted its holdings in shares of ConocoPhillips by 1.9% during the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after buying an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC increased its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 85 shares during the last quarter. KLCM Advisors Inc. increased its position in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after purchasing an additional 89 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after purchasing an additional 89 shares during the last quarter. Finally, Endowment Wealth Management Inc. grew its stake in shares of ConocoPhillips by 4.6% during the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after acquiring an additional 90 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COP shares. Piper Sandler lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Truist Financial decreased their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Susquehanna raised their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP traded down $0.06 during midday trading on Friday, reaching $130.05. The stock had a trading volume of 1,546,836 shares, compared to its average volume of 5,306,350. The company’s 50 day moving average price is $122.10 and its 200 day moving average price is $117.58. The firm has a market cap of $152.99 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. 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 twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post 9.57 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 issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last 90 days. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.