ConocoPhillips $COP Holdings Boosted by Novem Group

Novem Group boosted its holdings in ConocoPhillips (NYSE:COP) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,881 shares of the energy producer’s stock after acquiring an additional 6,851 shares during the period. Novem Group’s holdings in ConocoPhillips were worth $5,418,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its holdings in ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after acquiring an additional 101 shares during the last quarter. Oregon Pacific Wealth Management LLC lifted its holdings in ConocoPhillips by 4.5% in the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after acquiring an additional 104 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in ConocoPhillips by 5.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 2,231 shares of the energy producer’s stock worth $209,000 after acquiring an additional 109 shares during the last quarter. Wright Investors Service Inc. lifted its holdings in ConocoPhillips by 1.1% in the fourth quarter. Wright Investors Service Inc. now owns 9,792 shares of the energy producer’s stock worth $917,000 after acquiring an additional 109 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its holdings in ConocoPhillips by 1.4% in the third quarter. Strategic Blueprint LLC now owns 7,917 shares of the energy producer’s stock worth $749,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $116.39 on Tuesday. ConocoPhillips has a 12 month low of $84.28 and a 12 month high of $135.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The firm has a market capitalization of $141.87 billion, a PE ratio of 18.36, a P/E/G ratio of 2.09 and a beta of 0.19. The company’s 50 day simple moving average is $120.06 and its 200 day simple moving average is $102.65.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same quarter in the prior year, the business earned $1.98 EPS. ConocoPhillips’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Raymond James Financial raised their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Citigroup raised their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Scotiabank upgraded shares of ConocoPhillips to a “hold” rating in a research note on Friday, March 27th. Wolfe Research raised their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Royal Bank Of Canada raised their price target on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.24.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 506,800 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the transaction, the chief executive officer owned 6,835 shares in the company, valued at $869,822.10. This trade represents a 98.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director owned 411,211 shares in the company, valued at $48,847,754.69. This represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by company insiders.

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.