ConocoPhillips (NYSE:COP) Holdings Lowered by Good Life Advisors LLC

Good Life Advisors LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,203 shares of the energy producer’s stock after selling 496 shares during the quarter. Good Life Advisors LLC’s holdings in ConocoPhillips were worth $1,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bayesian Capital Management LP acquired a new position in ConocoPhillips during the 2nd quarter valued at $5,592,000. Guidance Capital Inc. acquired a new position in ConocoPhillips during the 2nd quarter valued at about $599,000. Bollard Group LLC lifted its position 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 purchasing an additional 1,233 shares during the period. Capital Investment Counsel Inc acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $228,000. Finally, Columbia Trust Co 01012016 raised 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 worth $1,098,000 after buying an additional 112 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.3 %

Shares of COP stock traded up $0.44 on Thursday, reaching $127.28. 4,629,623 shares of the company’s stock were exchanged, compared to its average volume of 5,774,988. The company’s fifty day simple moving average is $113.87 and its 200 day simple moving average is $116.08. The stock has a market capitalization of $149.73 billion, a PE ratio of 14.08, a P/E/G ratio of 2.87 and a beta of 1.23. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $128.64. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.45%. 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 payout ratio is currently 25.61%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Scotiabank lifted their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Piper Sandler dropped their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Susquehanna decreased their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Finally, Raymond James decreased their target price on 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 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.35.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on 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 directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on 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 of the company’s stock, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 in the last 90 days. Corporate 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.