ConocoPhillips (NYSE:COP) Shares Sold by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 30.9% during the fourth quarter, HoldingsChannel reports. The firm owned 7,865 shares of the energy producer’s stock after selling 3,515 shares during the quarter. Altfest L J & Co. Inc.’s holdings in ConocoPhillips were worth $913,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COP. Moneta Group Investment Advisors LLC lifted its position in shares of ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares in the last quarter. Morgan Stanley lifted its position in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of ConocoPhillips during the third quarter worth $310,102,000. Cowa LLC raised its holdings in ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after acquiring an additional 2,339,100 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in ConocoPhillips in the fourth quarter valued at $186,330,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 over the last three months. Company insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $0.57 during mid-day trading on Thursday, hitting $127.41. 1,522,552 shares of the company’s stock traded hands, compared to its average volume of 5,723,507. The firm has a 50 day moving average price of $113.49 and a 200 day moving average price of $116.01. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a market cap of $149.89 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. ConocoPhillips has a one year low of $95.70 and a one year high of $128.64.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the previous year, the business earned $2.71 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.79 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Analyst Ratings Changes

Several analysts recently issued reports on COP shares. Piper Sandler cut their price target on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Scotiabank upped their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Mizuho reaffirmed a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Johnson Rice cut shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.12.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.