Sage Mountain Advisors LLC Raises Position in ConocoPhillips (NYSE:COP)

Sage Mountain Advisors LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,111 shares of the energy producer’s stock after purchasing an additional 724 shares during the period. Sage Mountain Advisors LLC’s holdings in ConocoPhillips were worth $709,000 at the end of the most recent quarter.

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

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The stock was 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. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 over the last quarter. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.0 %

Shares of ConocoPhillips stock opened at $129.33 on Tuesday. The company has a market cap of $152.15 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. The company’s 50 day moving average is $120.93 and its 200 day moving average is $117.31. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the firm earned $2.71 earnings per share. Research analysts anticipate that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. UBS Group upped their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Barclays assumed coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price on the stock. Finally, Truist Financial dropped their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Five 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. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.24.

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.