ConocoPhillips (NYSE:COP) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in shares of ConocoPhillips (NYSE:COP) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 595,515 shares of the energy producer’s stock after selling 232,824 shares during the period. Van ECK Associates Corp owned about 0.05% of ConocoPhillips worth $69,121,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of COP. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth about $27,000. West Branch Capital LLC lifted its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 111 shares during the period. Spartan Planning & Wealth Management bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $40,000. Finally, Nemes Rush Group LLC raised its position in shares of ConocoPhillips by 163.9% during the 3rd quarter. Nemes Rush Group LLC now owns 380 shares of the energy producer’s stock worth $46,000 after purchasing an additional 236 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.7 %

Shares of NYSE:COP traded down $2.23 during trading on Tuesday, hitting $127.99. 1,000,581 shares of the company’s stock were exchanged, compared to its average volume of 5,278,685. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $150.57 billion, a P/E ratio of 14.37, a PEG ratio of 2.72 and a beta of 1.24. The firm has a 50-day moving average price of $122.88 and a two-hundred day moving average price of $117.67. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released 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. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $2.71 EPS. Equities analysts predict that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insiders Place Their Bets

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Dominic E. Macklon sold 23,372 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sold 700,775 shares of company stock worth $87,615,169 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Susquehanna raised their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Piper Sandler upped their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. UBS Group lifted their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Mizuho reiterated a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Finally, Truist Financial reduced their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday. Five investment 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. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $142.65.

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.