ConocoPhillips $COP Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,304 shares of the energy producer’s stock after selling 4,300 shares during the quarter. Spirit of America Management Corp NY’s holdings in ConocoPhillips were worth $3,211,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Scotia Capital Inc. raised its stake in ConocoPhillips by 11.2% during the second quarter. Scotia Capital Inc. now owns 6,805 shares of the energy producer’s stock valued at $611,000 after buying an additional 683 shares in the last quarter. Lido Advisors LLC lifted its holdings in ConocoPhillips by 41.5% during the 2nd quarter. Lido Advisors LLC now owns 272,367 shares of the energy producer’s stock worth $24,442,000 after buying an additional 79,921 shares during the last quarter. Smith Moore & CO. grew its position in shares of ConocoPhillips by 3.4% in the 2nd quarter. Smith Moore & CO. now owns 11,998 shares of the energy producer’s stock worth $1,077,000 after acquiring an additional 390 shares in the last quarter. Shelton Capital Management increased its holdings in shares of ConocoPhillips by 7.7% in the 2nd quarter. Shelton Capital Management now owns 80,808 shares of the energy producer’s stock valued at $7,252,000 after acquiring an additional 5,767 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 1.6% in the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after acquiring an additional 224,201 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $132.85 on Tuesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $135.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The business’s fifty day moving average price is $113.26 and its two-hundred day moving average price is $99.44. The firm has a market capitalization of $164.17 billion, a PE ratio of 20.95, a P/E/G ratio of 2.87 and a beta of 0.27.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.21). The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were given a $0.84 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

Insider Activity

In other news, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the sale, the senior vice president owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 14,522 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $119.36, for a total value of $1,733,345.92. Following the transaction, the executive vice president owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. This represents a 53.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 621,670 shares of company stock worth $78,320,133 over the last three months. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COP shares. Wells Fargo & Company raised their price objective on ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a research note on Tuesday, February 17th. The Goldman Sachs Group increased their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Mizuho raised their price target on shares of ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, Piper Sandler lifted their price target on shares of ConocoPhillips from $111.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.16.

ConocoPhillips 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.