ConocoPhillips $COP Position Boosted by Hi Line Capital Management LLC

Hi Line Capital Management LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,600 shares of the energy producer’s stock after buying an additional 5,759 shares during the period. ConocoPhillips accounts for 3.3% of Hi Line Capital Management LLC’s portfolio, making the stock its 9th biggest position. Hi Line Capital Management LLC’s holdings in ConocoPhillips were worth $9,979,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Duncan Williams Asset Management LLC increased its stake in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after buying an additional 100 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after buying an additional 101 shares during the period. Strategic Blueprint LLC increased its stake in shares of ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after buying an additional 101 shares during the period. Chesapeake Wealth Management increased its stake in shares of ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after buying an additional 103 shares during the period. Finally, Oregon Pacific Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.5% during the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after buying an additional 104 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares of the company’s stock, valued at $48,847,754.69. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares in the company, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 734,891 shares of company stock valued at $93,345,692. Corporate insiders own 0.09% of the company’s stock.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales agreement tied to the Alaska LNG project, giving the company long-duration visibility on gas volumes and strengthening the investment case for its Alaska assets. ConocoPhillips Alaska LNG Deal Extends Gas Visibility And Valuation Debate
• Positive Sentiment: Reuters reported that delays in ConocoPhillips’ Qatar gas joint ventures are expected to be measured in months rather than years, which reduces concern around the timing of future LNG growth. ConocoPhillips expects Qatar gas JVs delays of months, not years
• Positive Sentiment: Analysts and screeners highlighted COP as a high-ROE name, a momentum stock, and a company with rising earnings estimates, all of which can support investor demand for the shares. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?
• Positive Sentiment: Jefferies reportedly set a new $161 price target for COP, reinforcing a constructive Wall Street view on the stock. ConocoPhillips Given New $161.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Several articles were more about COP’s standing versus peers or general broker sentiment, offering context but little immediate new catalyst. ConocoPhillips (COP) Is Considered a Good Investment by Brokers: Is That True? Occidental Petroleum Stock Is Up 45% This Year…
• Negative Sentiment: Despite the positive longer-term narrative, COP also tracked a broader market pullback and energy volatility, which may have contributed to the stock’s softer tone in the latest trading session. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump

ConocoPhillips Trading Down 2.2%

Shares of NYSE:COP opened at $122.33 on Thursday. The company has a market cap of $149.04 billion, a P/E ratio of 20.77, a PEG ratio of 1.44 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The stock’s fifty day moving average price is $123.48 and its 200-day moving average price is $107.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. Sell-side analysts expect that ConocoPhillips will post 9.63 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COP shares. Wells Fargo & Company boosted their target price on ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Royal Bank Of Canada upped their price target on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Barclays upped their price target on ConocoPhillips from $128.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Susquehanna boosted their target price on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

About ConocoPhillips

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.