Monument Capital Management Has $2.59 Million Position in ConocoPhillips (NYSE:COP)

Monument Capital Management lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,349 shares of the energy producer’s stock after selling 542 shares during the quarter. Monument Capital Management’s holdings in ConocoPhillips were worth $2,594,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after buying an additional 1,152,907 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of ConocoPhillips by 1.1% during the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock worth $848,984,000 after buying an additional 74,278 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock worth $775,416,000 after buying an additional 33,466 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips 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 transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP traded up $0.63 during mid-day trading on Monday, hitting $130.01. 2,229,534 shares of the stock were exchanged, compared to its average volume of 5,390,111. The stock has a market capitalization of $152.94 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. The firm’s 50-day simple moving average is $120.56 and its 200 day simple moving average is $117.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the firm posted $2.71 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 9.47 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared 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 is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Scotiabank increased their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Truist Financial decreased their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, April 5th. UBS Group raised their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Wells Fargo & Company raised their price target on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler raised their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday. Five 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Company Profile

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.