Dumont & Blake Investment Advisors LLC Trims Stock Holdings in ConocoPhillips (NYSE:COP)

Dumont & Blake Investment Advisors LLC reduced its position in ConocoPhillips (NYSE:COPFree Report) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,137 shares of the energy producer’s stock after selling 580 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in ConocoPhillips were worth $1,177,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. West Tower Group LLC acquired a new position in shares of ConocoPhillips during the second quarter worth about $27,000. Orion Capital Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC boosted its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. RVW Wealth LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $28,000. Finally, Fairfield Bush & CO. acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $1.09 during trading hours on Wednesday, hitting $131.76. 2,057,725 shares of the company were exchanged, compared to its average volume of 5,660,163. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $131.84. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $115.53 and a 200-day moving average of $116.20. The stock has a market capitalization of $155.00 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 2.92 and a beta of 1.24.

ConocoPhillips (NYSE:COPGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. As a group, analysts expect that ConocoPhillips will post 8.81 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research analyst reports. 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. Piper Sandler lowered their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Susquehanna lowered their price target on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a report on Friday, January 26th. Finally, Raymond James lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $135.35.

View Our Latest Analysis on COP

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. 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 quarter. Company insiders own 0.37% of the company’s stock.

About ConocoPhillips

(Free Report)

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.

Read More

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPFree Report).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.