Clearbridge Investments LLC Has $206.85 Million Stock Position in ConocoPhillips $COP

Clearbridge Investments LLC trimmed its position in ConocoPhillips (NYSE:COP) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,209,685 shares of the energy producer’s stock after selling 222,244 shares during the quarter. Clearbridge Investments LLC owned about 0.18% of ConocoPhillips worth $206,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter worth $28,000. Board of the Pension Protection Fund acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $28,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips in the third quarter worth $28,000. Optima Capital LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $34,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips in the second quarter worth $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $127.26, for a total value of $64,495,368.00. Following the completion of the transaction, the chief executive officer owned 6,835 shares in the company, valued at approximately $869,822.10. This represents a 98.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 686,391 shares of company stock worth $87,590,752. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Scotiabank upped their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Capital One Financial reduced their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Finally, Susquehanna increased their price target on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $117.10 on Monday. 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 firm has a fifty day moving average price of $122.08 and a two-hundred day moving average price of $109.58. The company 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 issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the firm earned $2.09 EPS. The business’s revenue was down 6.1% on a year-over-year basis. Analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is currently 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.