Parkside Investments LLC Trims Stake in ConocoPhillips $COP

Parkside Investments LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 10.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 78,661 shares of the energy producer’s stock after selling 9,175 shares during the quarter. Parkside Investments LLC’s holdings in ConocoPhillips were worth $7,441,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. First Heartland Consultants Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at $328,000. Mufg Securities Americas Inc. lifted its holdings in ConocoPhillips by 20.4% in the 3rd quarter. Mufg Securities Americas Inc. now owns 33,679 shares of the energy producer’s stock valued at $3,186,000 after purchasing an additional 5,700 shares in the last quarter. Lake Street Private Wealth LLC boosted its stake in shares of ConocoPhillips by 5.8% during the 3rd quarter. Lake Street Private Wealth LLC now owns 3,085 shares of the energy producer’s stock worth $292,000 after purchasing an additional 169 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of ConocoPhillips during the third quarter worth about $345,000. Finally, Lcnb Corp acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $203,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on COP. Wall Street Zen lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday. Roth Mkm downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research report on Tuesday, February 17th. Bank of America reiterated an “underperform” rating and issued a $102.00 target price on shares of ConocoPhillips in a research note on Friday, January 16th. UBS Group reissued a “buy” rating and issued a $130.00 price target on shares of ConocoPhillips in a research note on Monday, February 9th. Finally, Argus upped their price objective on shares of ConocoPhillips from $111.00 to $128.00 and gave the company a “strong-buy” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.92.

Insider Activity

In other news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.

ConocoPhillips Price Performance

COP stock opened at $110.64 on Wednesday. The company has a market cap of $136.71 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $100.60 and a two-hundred day moving average price of $95.03. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $113.80.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s payout ratio is currently 53.00%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.