Parkside Investments LLC Trims Position in ConocoPhillips $COP

Parkside Investments LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 66.8% during the fourth quarter, HoldingsChannel reports. The firm owned 26,116 shares of the energy producer’s stock after selling 52,545 shares during the quarter. Parkside Investments LLC’s holdings in ConocoPhillips were worth $2,445,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Allstate Corp lifted its stake in shares of ConocoPhillips by 104.7% during the 4th quarter. Allstate Corp now owns 95,369 shares of the energy producer’s stock worth $8,927,000 after purchasing an additional 48,774 shares during the period. MSH Capital Advisors LLC lifted its stake in shares of ConocoPhillips by 2.7% during the 4th quarter. MSH Capital Advisors LLC now owns 5,661 shares of the energy producer’s stock worth $530,000 after purchasing an additional 148 shares during the period. Murphy Pohlad Asset Management LLC lifted its stake in shares of ConocoPhillips by 2.1% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 68,594 shares of the energy producer’s stock worth $6,421,000 after purchasing an additional 1,435 shares during the period. Cooke & Bieler LP lifted its stake in shares of ConocoPhillips by 6.9% during the 4th quarter. Cooke & Bieler LP now owns 1,722,300 shares of the energy producer’s stock worth $161,225,000 after purchasing an additional 111,262 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of ConocoPhillips by 3.7% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 15,300 shares of the energy producer’s stock worth $1,432,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.0%

Shares of NYSE COP opened at $120.48 on Tuesday. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87. The company has a market cap of $146.78 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.39 and a beta of 0.14. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $123.68 and a 200 day moving average price of $107.82.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) 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 firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the firm earned $2.09 EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 9.92 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Analysts Set New Price Targets

A number of analysts have recently commented on COP shares. Roth Mkm downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a report on Tuesday, February 17th. Truist Financial set a $128.00 price objective on ConocoPhillips in a report on Friday, May 1st. BMO Capital Markets dropped their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $133.28.

Insider Activity at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by insiders.

About ConocoPhillips

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.