ConocoPhillips $COP Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its stake in ConocoPhillips (NYSE:COP) by 22.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,962 shares of the energy producer’s stock after selling 8,958 shares during the quarter. Bleakley Financial Group LLC’s holdings in ConocoPhillips were worth $2,898,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Cloud Capital Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Finally, BNP Paribas purchased a new stake in ConocoPhillips during the 2nd quarter worth approximately $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Heather G. Hrap sold 2,654 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $317,630.72. Following the completion of the sale, the senior vice president owned 5,663 shares in the company, valued at $677,747.84. This represents a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares of the company’s stock, valued at $685,488.70. This trade represents a 56.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 734,891 shares of company stock worth $93,345,692 over the last 90 days. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. Raymond James Financial upped their target price on shares of ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, Mizuho increased their price objective on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.60.

ConocoPhillips Stock Down 1.2%

Shares of NYSE:COP opened at $115.15 on Thursday. The stock has a market cap of $140.28 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.31 and a beta of 0.14. The firm has a fifty day moving average price of $123.45 and a 200 day moving average price of $108.23. 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 $84.28 and a 1-year high of $135.87.

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, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 EPS. Sell-side analysts predict that ConocoPhillips will post 9.92 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Mizuho raised its price target on ConocoPhillips to $150 from $136 and reiterated an outperform rating, implying meaningful upside versus the current share price. Mizuho raises price target on ConocoPhillips
• Positive Sentiment: Morgan Stanley also increased its price target on COP, reinforcing the view that Wall Street sees room for more gains. ConocoPhillips price target raised by Morgan Stanley
• Positive Sentiment: Oil prices moved higher as renewed US-Iran tensions clouded the outlook for a smooth deal around the Strait of Hormuz, which can improve the revenue outlook for upstream producers like ConocoPhillips. Oil climbs as US-Iran clashes muddy outlook for peace deal
• Positive Sentiment: Analysts highlighted ConocoPhillips’ LNG strategy, including Port Arthur and Equatorial Guinea projects, as a longer-term free-cash-flow driver that could support valuation over time. ConocoPhillips LNG strategy emerges as key long-term growth driver
• Neutral Sentiment: Zacks published a value-stock writeup on COP, framing it as an attractive long-term investment, but it appears more educational than a new company-specific catalyst. Why ConocoPhillips is a top value stock for the long term
• Neutral Sentiment: Reports that ConocoPhillips may seek safeguards to return to Venezuela point to potential future upside, but the outcome remains uncertain and speculative. Exxon, ConocoPhillips seek safeguards to return to Venezuela

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.