Corient Private Wealth LLC Sells 11,039 Shares of ConocoPhillips $COP

Corient Private Wealth LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 536,286 shares of the energy producer’s stock after selling 11,039 shares during the period. Corient Private Wealth LLC’s holdings in ConocoPhillips were worth $50,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AXA S.A. boosted its position in ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. raised its stake in shares of ConocoPhillips by 6.1% during the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the last quarter. BNP Paribas bought a new position in shares of ConocoPhillips during the second quarter valued at $33,000. Osterweis Capital Management Inc. acquired a new position in shares of ConocoPhillips during the second quarter worth $151,000. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insider Activity at ConocoPhillips

In other ConocoPhillips 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 transaction of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the sale, the senior vice president directly owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $107.92 on Monday. The business has a 50-day moving average price of $118.65 and a two-hundred day moving average price of $111.39. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market cap of $131.48 billion, a P/E ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $15.62 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Raymond James Financial reduced their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Sanford C. Bernstein raised their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, Roth Mkm set a $130.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.20.

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.