ConocoPhillips $COP Holdings Decreased by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 18.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,113 shares of the energy producer’s stock after selling 24,804 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in ConocoPhillips were worth $10,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after acquiring an additional 408,304 shares in the last quarter. Capital International Investors raised its position in ConocoPhillips by 18.2% in the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. Fisher Asset Management LLC raised its position in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after acquiring an additional 193,401 shares in the last quarter. Ameriprise Financial Inc. raised its position in ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after acquiring an additional 2,216,010 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after acquiring an additional 2,467,555 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of several research reports. Roth Mkm cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research report on Tuesday, February 17th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Royal Bank Of Canada boosted their price target 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. Finally, Piper Sandler boosted their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.48.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 2,654 shares of ConocoPhillips stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares in the company, valued at approximately $677,747.84. This trade represents a 31.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 694,891 shares of company stock worth $88,594,092. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Trading Down 1.8%

NYSE:COP opened at $117.10 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 fifty-two week low of $85.57 and a fifty-two week high of $135.87. The stock’s 50-day moving average is $122.08 and its two-hundred day moving average is $109.43. The stock has a market cap of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the business posted $2.09 EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm 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. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

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.