Los Angeles Capital Management LLC Sells 260,386 Shares of ConocoPhillips (NYSE:COP)

Los Angeles Capital Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 60.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 168,424 shares of the energy producer’s stock after selling 260,386 shares during the period. Los Angeles Capital Management LLC’s holdings in ConocoPhillips were worth $19,549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. increased its holdings in ConocoPhillips by 7.0% during the third quarter. Stratos Wealth Partners LTD. now owns 24,607 shares of the energy producer’s stock valued at $2,948,000 after buying an additional 1,610 shares during the last quarter. Brown Advisory Inc. lifted its position in ConocoPhillips by 7.8% during the third quarter. Brown Advisory Inc. now owns 134,285 shares of the energy producer’s stock valued at $16,087,000 after purchasing an additional 9,723 shares in the last quarter. Signet Financial Management LLC grew its holdings in ConocoPhillips by 5.8% during the third quarter. Signet Financial Management LLC now owns 4,607 shares of the energy producer’s stock valued at $552,000 after purchasing an additional 251 shares during the period. Kowal Investment Group LLC increased its position in ConocoPhillips by 19.5% in the third quarter. Kowal Investment Group LLC now owns 6,050 shares of the energy producer’s stock worth $725,000 after buying an additional 986 shares in the last quarter. Finally, Caldwell Investment Management Ltd. bought a new position in shares of ConocoPhillips in the third quarter worth about $1,905,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. 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 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of recent analyst reports. Susquehanna raised their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Piper Sandler lifted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. UBS Group increased 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. Scotiabank boosted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Barclays initiated coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.76.

ConocoPhillips Trading Down 0.0 %

Shares of ConocoPhillips stock traded down $0.02 during trading on Friday, hitting $122.23. The stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The stock has a market cap of $143.79 billion, a PE ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25. ConocoPhillips has a 12 month low of $95.81 and a 12 month high of $135.18. The firm’s fifty day simple moving average is $123.63 and its 200-day simple moving average is $117.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the business earned $2.71 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post 9.11 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

ConocoPhillips Company Profile

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.