Capital World Investors Sells 1,553,762 Shares of ConocoPhillips $COP

Capital World Investors reduced its position in shares of ConocoPhillips (NYSE:COP) by 23.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,198,516 shares of the energy producer’s stock after selling 1,553,762 shares during the quarter. Capital World Investors’ holdings in ConocoPhillips were worth $486,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. KERR FINANCIAL PLANNING Corp bought a new stake in shares of ConocoPhillips during the third quarter worth about $28,000. Board of the Pension Protection Fund bought a new stake in shares of ConocoPhillips during the fourth quarter worth about $28,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth about $28,000. BNP Paribas bought a new stake in ConocoPhillips in the second quarter valued at approximately $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $34,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $117.10 on Monday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The business’s 50 day moving average price is $122.08 and its two-hundred day moving average price is $109.58. The firm has a market cap of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last issued 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 for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. The company’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s payout ratio is 57.05%.

Insider Activity at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Heather G. Hrap sold 2,654 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares in the company, valued at $677,747.84. The trade was a 31.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 686,391 shares of company stock valued at $87,590,752 over the last three months. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on COP shares. BMO Capital Markets reduced their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Zacks Research cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Piper Sandler upped their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a report on Tuesday, February 17th. Finally, Argus upped their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.48.

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.