CFO Capital Management LLC Acquires New Shares in ConocoPhillips $COP

CFO Capital Management LLC acquired a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,772 shares of the energy producer’s stock, valued at approximately $447,000.

Other large investors have also added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at approximately $28,000. BNP Paribas purchased a new stake in ConocoPhillips during the second quarter valued at approximately $33,000. Finally, Optima Capital LLC bought a new position in ConocoPhillips in the fourth quarter worth approximately $34,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’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 sale, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 127,915 shares of company stock worth $16,915,448. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Trading Up 0.2%

NYSE COP opened at $107.92 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a market cap of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. The company has a 50 day moving average price of $118.65 and a 200 day moving average price of $111.25. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87.

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

ConocoPhillips Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on COP shares. Barclays lifted their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Citigroup raised their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, UBS Group boosted their price objective on ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.48.

About ConocoPhillips

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.