Louisbourg Investments Inc. Trims Stake in ConocoPhillips $COP

Louisbourg Investments Inc. reduced its stake in ConocoPhillips (NYSE:COP) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,113 shares of the energy producer’s stock after selling 6,030 shares during the quarter. Louisbourg Investments Inc.’s holdings in ConocoPhillips were worth $5,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. AXA S.A. increased its holdings in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after acquiring an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its position in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas purchased a new stake in shares of ConocoPhillips in the second quarter worth $33,000. Osterweis Capital Management Inc. bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC lifted its stake in shares of ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after buying an additional 1,675 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $105.63 on Friday. The business’s 50-day moving average is $117.29 and its 200 day moving average is $111.81. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The company has a market capitalization of $128.69 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.17 and a beta of 0.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on COP. Piper Sandler upped their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Mizuho raised their price target on ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Wolfe Research boosted their price objective on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Susquehanna upped their price objective on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Finally, Scotiabank increased their target price on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Company Profile

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.