Abbrea Capital LLC Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Abbrea Capital LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,945 shares of the energy producer’s stock after selling 295 shares during the quarter. Abbrea Capital LLC’s holdings in ConocoPhillips were worth $1,386,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of COP. Norris Perne & French LLP MI raised its stake in ConocoPhillips by 1.9% during the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after acquiring an additional 80 shares during the period. Sloy Dahl & Holst LLC increased its stake in shares of ConocoPhillips by 3.3% in the third 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 period. KLCM Advisors Inc. increased its stake in shares of ConocoPhillips by 2.8% in the third 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 period. Evergreen Capital Management LLC increased its stake in shares of ConocoPhillips by 0.5% in the third 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 period. Finally, Endowment Wealth Management Inc. increased its stake in shares of ConocoPhillips by 4.6% in the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock valued at $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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Barclays assumed coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Raymond James lowered their price objective 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. Truist Financial decreased their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.13 during trading hours on Friday, reaching $130.24. 4,822,930 shares of the company were exchanged, compared to its average volume of 5,349,431. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The stock’s fifty day moving average is $122.10 and its two-hundred day moving average is $117.58. The company has a market cap of $153.22 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.70 and a beta of 1.24. 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 (NYSE:COP) last announced its quarterly earnings data 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 net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the business posted $2.71 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Over the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.34% 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.