Pring Turner Capital Group Inc. Takes Position in ConocoPhillips $COP

Pring Turner Capital Group Inc. purchased a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,425 shares of the energy producer’s stock, valued at approximately $2,099,000.

Other hedge funds have also modified their holdings of the company. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $28,000. BNP Paribas acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $33,000. Finally, Optima Capital LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $34,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Michael Lance sold 506,800 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the completion of the transaction, the chief executive officer directly owned 6,835 shares of the company’s stock, valued at $869,822.10. The trade was a 98.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 14,522 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. This trade represents a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 734,891 shares of company stock valued at $93,345,692. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a report on Tuesday, February 17th. Royal Bank Of Canada boosted their target price on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. UBS Group boosted their target price on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.60.

ConocoPhillips Stock Performance

NYSE COP opened at $114.01 on Monday. ConocoPhillips has a fifty-two week low of $84.33 and a fifty-two week high of $135.87. The stock has a market cap of $138.90 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.28 and a beta of 0.11. The business has a fifty day moving average of $123.09 and a 200-day moving average of $108.61. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

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.