ConocoPhillips (NYSE:COP) Position Decreased by Eley Financial Management Inc

Eley Financial Management Inc cut its position in shares of ConocoPhillips (NYSE:COP) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,894 shares of the energy producer’s stock after selling 149 shares during the quarter. Eley Financial Management Inc’s holdings in ConocoPhillips were worth $1,264,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at $27,000. West Branch Capital LLC grew its position in shares of ConocoPhillips by 87.8% in the 4th 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 during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in 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 acquiring an additional 111 shares in the last quarter. Spartan Planning & Wealth Management bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $44,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Piper Sandler raised their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial decreased their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Raymond James cut their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company lifted their price target on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, Scotiabank lifted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

Shares of COP traded down $0.06 during mid-day trading on Friday, reaching $130.05. 1,546,836 shares of the company’s stock traded hands, compared to its average volume of 5,306,350. The business’s 50-day moving average price is $122.10 and its 200-day moving average price is $117.58. The stock has a market capitalization of $152.99 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.70 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 12 month low of $95.70 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly 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. The business had revenue of $15.31 billion for 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 in the previous year, the company posted $2.71 EPS. Equities analysts predict that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. ConocoPhillips’s payout ratio is currently 25.61%.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were 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. Over the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.