Rockefeller Capital Management L.P. Has $41.49 Million Stock Position in ConocoPhillips $COP

Rockefeller Capital Management L.P. reduced its holdings in ConocoPhillips (NYSE:COP) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 443,175 shares of the energy producer’s stock after selling 135,553 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in ConocoPhillips were worth $41,486,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $28,000. Strive Asset Management LLC bought a new position in ConocoPhillips during the third quarter worth $28,000. Finally, BNP Paribas acquired a new stake in ConocoPhillips in the second quarter worth $33,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Truist Financial set a $128.00 price target on ConocoPhillips in a report on Friday, May 1st. Scotiabank raised their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Capital One Financial decreased their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.20.

ConocoPhillips Stock Up 0.2%

Shares of NYSE COP opened at $107.92 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. The company has a 50-day moving average price of $118.65 and a 200-day moving average price of $111.39. The stock has a market capitalization of $131.48 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.19 and a beta of 0.11. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping 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 company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business posted $2.09 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts forecast that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the transaction, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.