Schwartz Investment Counsel Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 79.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,800 shares of the energy producer’s stock after selling 30,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in ConocoPhillips were worth $730,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC boosted its stake in shares of ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 101 shares during the period. Strategic Blueprint LLC grew its holdings in ConocoPhillips by 1.3% in the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after acquiring an additional 101 shares during the last quarter. Chesapeake Wealth Management increased its position in shares of ConocoPhillips by 1.5% in the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after acquiring an additional 103 shares during the period. Oregon Pacific Wealth Management LLC increased its position in shares of ConocoPhillips by 4.5% in the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after acquiring an additional 104 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its stake in shares of ConocoPhillips by 5.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 2,231 shares of the energy producer’s stock valued at $209,000 after acquiring an additional 109 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips Stock Up 1.9%
Shares of ConocoPhillips stock opened at $117.75 on Wednesday. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The firm has a market cap of $143.45 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.62 and a beta of 0.14. The company has a 50-day moving average of $122.95 and a 200 day moving average of $105.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.
ConocoPhillips Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Sanford C. Bernstein boosted their price target on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Royal Bank Of Canada raised their target price on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. Wolfe Research lifted their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Jefferies Financial Group increased their price target on shares of ConocoPhillips from $129.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.04.
Get Our Latest Stock Report on COP
Insider Transactions at ConocoPhillips
In related news, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the transaction, the senior vice president owned 17,469 shares in the company, valued at $2,090,689.92. The trade was a 66.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the sale, the senior vice president owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. This represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 734,891 shares of company stock worth $93,345,692 over the last quarter. Corporate insiders own 0.09% of the company’s stock.
ConocoPhillips Company 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.
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