Homestead Advisers Corp Lowers Stake in ConocoPhillips $COP

Homestead Advisers Corp trimmed its position in ConocoPhillips (NYSE:COP) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,500 shares of the energy producer’s stock after selling 13,500 shares during the quarter. Homestead Advisers Corp owned 0.05% of ConocoPhillips worth $62,571,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COP. Howard Hughes Medical Institute acquired a new position in ConocoPhillips during the second quarter valued at approximately $25,000. Cloud Capital Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $26,000. Bogart Wealth LLC lifted its holdings in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Cedar Mountain Advisors LLC boosted its position in ConocoPhillips by 58.0% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after purchasing an additional 116 shares during the period. Finally, Activest Wealth Management increased its holdings in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $107.63 on Thursday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $108.34. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The stock has a market cap of $133.00 billion, a P/E ratio of 15.22 and a beta of 0.32. The stock has a 50 day moving average of $95.76 and a 200-day moving average of $93.52.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on COP shares. The Goldman Sachs Group boosted their price objective on ConocoPhillips from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wells Fargo & Company began coverage on ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target on the stock. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Finally, UBS Group boosted their target price on shares of ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.96.

Insider Activity

In other news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Mcraven purchased 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the transaction, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.24% of the stock is currently owned by insiders.

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.