ConocoPhillips $COP Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 88.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,113 shares of the energy producer’s stock after selling 44,726 shares during the quarter. Resources Management Corp CT ADV’s holdings in ConocoPhillips were worth $572,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC raised its stake in ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock valued at $989,000 after purchasing an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC raised its stake in ConocoPhillips by 4.4% in the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after purchasing an additional 100 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in ConocoPhillips by 4.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 101 shares during the last quarter. Strategic Blueprint LLC raised its stake in ConocoPhillips by 1.3% in the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after purchasing an additional 101 shares during the last quarter. Finally, Chesapeake Wealth Management raised its stake in ConocoPhillips by 1.5% in the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after purchasing an additional 103 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup increased their price objective on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Roth Mkm downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research note on Tuesday, February 17th. Barclays increased their price objective on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley increased their price objective on ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.48.

ConocoPhillips Stock Down 4.1%

Shares of COP opened at $112.14 on Tuesday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a market capitalization of $136.62 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. The stock has a fifty day simple moving average of $120.26 and a two-hundred day simple moving average of $110.80. 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 issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) 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 business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the company earned $2.09 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.0%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares of the company’s stock, valued at $685,488.70. This trade represents a 56.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 634,715 shares of company stock valued at $81,410,816 in the last three months. 0.09% of the stock is currently owned by insiders.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is highlighting a long-term growth driver in Alaska: its $9 billion Willow project on the North Slope could eventually add about $4 billion in annual incremental cash flow, supporting a goal of doubling free cash flow by 2029. Article Title
• Positive Sentiment: A potential deal with Syria to revive gas production could open a new international growth avenue and expand ConocoPhillips’ upstream opportunities if finalized. Article Title
• Positive Sentiment: News that ConocoPhillips may be the first U.S. energy major to sign with Damascus also suggests management is pursuing higher-risk, higher-reward international projects to rebuild growth. Article Title
• Neutral Sentiment: Short-put activity and option commentary point to continued trading interest in COP, but the note mainly reflects expectations that the stock will keep tracking oil prices. Article Title
• Negative Sentiment: Lower crude prices tied to the U.S.-Iran interim deal pressured the entire energy sector, with ConocoPhillips among the stocks falling as investors priced in weaker near-term pricing power and cash flow. Article Title
• Negative Sentiment: Articles focused on COP’s recent declines framed the move as an oil-market reaction rather than a company-specific issue, which can keep the stock under pressure if crude stays soft. Article Title

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.