Islay Capital Management LLC Has $1.62 Million Position in ConocoPhillips (NYSE:COP)

Islay Capital Management LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,976 shares of the energy producer’s stock after selling 327 shares during the quarter. ConocoPhillips accounts for 1.3% of Islay Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Islay Capital Management LLC’s holdings in ConocoPhillips were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in ConocoPhillips in the third quarter valued at about $27,000. West Branch Capital LLC boosted its holdings in ConocoPhillips by 87.8% during 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. Oliver Lagore Vanvalin Investment Group grew its stake in shares of ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the period. Spartan Planning & Wealth Management acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $40,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $46,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 2.6 %

NYSE:COP traded down $3.41 on Tuesday, hitting $126.81. 2,258,022 shares of the stock were exchanged, compared to its average volume of 5,292,793. The stock has a market capitalization of $149.18 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 2.72 and a beta of 1.24. 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 52 week low of $95.70 and a 52 week high of $135.18. The company’s 50-day moving average price is $122.88 and its 200 day moving average price is $117.67.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the company posted $2.71 EPS. On average, equities research analysts forecast that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Activity

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Susquehanna boosted their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Mizuho restated a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Raymond James lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial cut their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a report on Monday. Finally, UBS Group upped their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.65.

ConocoPhillips 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.