Foster & Motley Inc. Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Foster & Motley Inc. lessened its position in shares of ConocoPhillips (NYSE:COP) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,925 shares of the energy producer’s stock after selling 159 shares during the period. Foster & Motley Inc.’s holdings in ConocoPhillips were worth $1,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Alphinity Investment Management Pty Ltd purchased a new stake in ConocoPhillips in the third quarter worth approximately $310,102,000. Capital Wealth Planning LLC raised its position in ConocoPhillips by 45,426.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after purchasing an additional 1,425,946 shares during the period. Bank of New York Mellon Corp boosted its position in ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after buying an additional 1,152,907 shares during the period. International Assets Investment Management LLC grew its stake in shares of ConocoPhillips by 13,905.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after buying an additional 1,106,305 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $99,676,000. Institutional investors own 82.36% of the company’s stock.

Insider Activity

In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last ninety days. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $129.83 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market capitalization of $152.73 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 2.73 and a beta of 1.24. The stock has a 50-day moving average of $121.33 and a 200 day moving average of $117.41. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the firm earned $2.71 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

Analyst Ratings Changes

Several analysts have weighed in on COP shares. Raymond James lowered their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Morgan Stanley increased their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Wells Fargo & Company boosted their price target on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Piper Sandler increased their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, UBS Group upped their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.