Sfmg LLC Boosts Stock Position in ConocoPhillips (NYSE:COP)

Sfmg LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 47,477 shares of the energy producer’s stock after purchasing an additional 510 shares during the quarter. ConocoPhillips accounts for about 0.5% of Sfmg LLC’s holdings, making the stock its 27th largest holding. Sfmg LLC’s holdings in ConocoPhillips were worth $5,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of COP. Capital Investment Counsel Inc purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $228,000. Columbia Trust Co 01012016 increased its position in shares of ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the period. Raymond James & Associates raised its stake in shares of ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after acquiring an additional 23,572 shares during the last quarter. Syon Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $2,262,000. Finally, PFG Investments LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at about $233,000. Institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

COP stock traded down $0.72 during midday trading on Wednesday, hitting $129.53. The company’s stock had a trading volume of 3,878,617 shares, compared to its average volume of 4,204,073. The firm has a market capitalization of $152.38 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.83 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18. The company has a 50 day moving average of $119.60 and a two-hundred day moving average of $116.93.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the company posted $2.71 earnings per share. On average, analysts expect that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial cut their price objective on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Raymond James cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Susquehanna decreased their price target on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Finally, Wells Fargo & Company lifted their price objective on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $140.59.

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.