Meyer Handelman Co. decreased its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,135 shares of the energy producer’s stock after selling 7,655 shares during the period. Meyer Handelman Co.’s holdings in ConocoPhillips were worth $20,874,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips in the third quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips during the third quarter valued at $28,000. Board of the Pension Protection Fund acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $28,000. Finally, BNP Paribas bought a new position in shares of ConocoPhillips in the 2nd quarter worth about $33,000. 82.36% of the stock is owned by institutional investors.
Insider Buying and Selling
In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. The trade was a 24.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on ConocoPhillips
Key Headlines Impacting ConocoPhillips
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Roth Capital upgraded ConocoPhillips to Buy from Neutral, which can support investor confidence in the stock. Roth Capital Upgrades ConocoPhillips (COP) to Buy. Here is Why
- Positive Sentiment: ConocoPhillips was named to RBC Capital’s June Global Energy Best Ideas list, reinforcing the view that analysts see upside potential in the name. ConocoPhillips (COP) Named to RBC Capital’s June Global Energy Best Ideas List
- Neutral Sentiment: The company announced it will host its second-quarter earnings conference call on Aug. 6, keeping attention on upcoming results and guidance. ConocoPhillips to hold second-quarter earnings conference call on Thursday, Aug. 6
- Negative Sentiment: Broader oil-and-gas shares fell after crude dropped to its lowest level since the start of the Iran conflict, as easing geopolitical risk and resumed tanker traffic pressured oil prices and upstream producers like COP. TechnipFMC and Valaris Shares Plummet, What You Need To Know
ConocoPhillips Stock Down 0.5%
Shares of ConocoPhillips stock opened at $106.33 on Friday. 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 has a 1-year low of $85.57 and a 1-year high of $135.87. The business’s fifty day moving average price is $117.55 and its two-hundred day moving average price is $111.85. The company has a market capitalization of $129.55 billion, a P/E ratio of 18.05, a PEG ratio of 1.18 and a beta of 0.11.
ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.
ConocoPhillips Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.
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.
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