Summit Trail Advisors LLC Sells 1,111 Shares of ConocoPhillips (NYSE:COP)

Summit Trail Advisors LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,402 shares of the energy producer’s stock after selling 1,111 shares during the quarter. Summit Trail Advisors LLC’s holdings in ConocoPhillips were worth $743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brown Advisory Inc. grew its position in ConocoPhillips by 7.8% during the third quarter. Brown Advisory Inc. now owns 134,285 shares of the energy producer’s stock valued at $16,087,000 after acquiring an additional 9,723 shares during the last quarter. WealthShield Partners LLC purchased a new position in ConocoPhillips in the 3rd quarter worth $205,000. Brighton Jones LLC lifted its stake in ConocoPhillips by 5.1% in the third quarter. Brighton Jones LLC now owns 7,208 shares of the energy producer’s stock worth $864,000 after purchasing an additional 351 shares during the last quarter. Calamos Wealth Management LLC boosted its position in ConocoPhillips by 6.1% during the third quarter. Calamos Wealth Management LLC now owns 4,142 shares of the energy producer’s stock valued at $496,000 after buying an additional 237 shares during the period. Finally, Hills Bank & Trust Co boosted its position in ConocoPhillips by 118.6% during the third quarter. Hills Bank & Trust Co now owns 4,374 shares of the energy producer’s stock valued at $524,000 after buying an additional 2,373 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. Barclays initiated coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler upped their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Raymond James decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.76.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $1.05 during mid-day trading on Tuesday, reaching $124.60. 694,825 shares of the company traded hands, compared to its average volume of 5,308,154. The company’s 50 day moving average price is $124.07 and its 200-day moving average price is $117.59. The firm has a market cap of $145.72 billion, a PE ratio of 13.99, a PEG ratio of 2.69 and a beta of 1.25. ConocoPhillips has a 52 week low of $97.42 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 20.85% and a net margin of 18.40%. During the same period last year, the firm earned $2.71 earnings per share. On average, equities analysts expect that ConocoPhillips will post 9.1 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

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.