Sit Investment Associates Inc. Sells 22,070 Shares of ConocoPhillips $COP

Sit Investment Associates Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 13.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 144,911 shares of the energy producer’s stock after selling 22,070 shares during the period. Sit Investment Associates Inc.’s holdings in ConocoPhillips were worth $13,565,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. AXA S.A. boosted its stake in shares of ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after acquiring an additional 40,499 shares in the last quarter. Sei Investments Co. raised its stake in shares of ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares in the last quarter. BNP Paribas bought a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $33,000. Osterweis Capital Management Inc. acquired a new stake in ConocoPhillips in the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC lifted its holdings in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $107.92 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market cap of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.11. The firm has a fifty day moving average price of $118.99 and a two-hundred day moving average price of $111.27. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 EPS. Analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
• Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
• Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Truist Financial set a $128.00 price target on ConocoPhillips in a report on Friday, May 1st. Piper Sandler raised their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Raymond James Financial lowered their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Finally, Mizuho boosted their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.48.

Insider Buying and Selling

In other news, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president owned 5,395 shares in the company, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 127,915 shares of company stock valued at $16,915,448 over the last ninety days. 0.09% of the stock is owned by company insiders.

ConocoPhillips Company 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.