ConocoPhillips (NYSE:COP) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 18.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,063 shares of the energy producer’s stock after selling 474 shares during the quarter. Financial Partners Group LLC’s holdings in ConocoPhillips were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Tallon Kerry Patrick acquired a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $511,000. Legacy Capital Wealth Partners LLC boosted its stake in ConocoPhillips by 5.8% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,206 shares of the energy producer’s stock valued at $219,000 after purchasing an additional 121 shares in the last quarter. Allworth Financial LP increased its position in shares of ConocoPhillips by 17.1% during the 4th quarter. Allworth Financial LP now owns 23,056 shares of the energy producer’s stock valued at $2,376,000 after purchasing an additional 3,372 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth $314,000. Finally, Csenge Advisory Group lifted its holdings in shares of ConocoPhillips by 9.4% in the fourth quarter. Csenge Advisory Group now owns 7,721 shares of the energy producer’s stock valued at $766,000 after buying an additional 666 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COP shares. Wells Fargo & Company lowered their target price on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James Financial reissued an “outperform” rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Finally, Morgan Stanley upped their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.30.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the company’s stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president now directly owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Up 0.6%

NYSE:COP opened at $95.54 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The firm has a market capitalization of $120.78 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 2.57 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $89.23 and its 200 day moving average price is $95.69.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the company earned $2.05 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.27%. ConocoPhillips’s payout ratio is 39.64%.

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.