KG&L Capital Management LLC Sells 1,986 Shares of ConocoPhillips (NYSE:COP)

KG&L Capital Management LLC trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 44.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,455 shares of the energy producer’s stock after selling 1,986 shares during the quarter. KG&L Capital Management LLC’s holdings in ConocoPhillips were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Balefire LLC raised its stake in shares of ConocoPhillips by 3.4% during the 1st quarter. Balefire LLC now owns 25,815 shares of the energy producer’s stock valued at $2,711,000 after purchasing an additional 837 shares during the period. Pure Financial Advisors LLC raised its stake in shares of ConocoPhillips by 8.3% during the 1st quarter. Pure Financial Advisors LLC now owns 4,366 shares of the energy producer’s stock valued at $459,000 after purchasing an additional 336 shares during the period. Aspetuck Financial Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $1,344,000. Alpine Bank Wealth Management bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $274,000. Finally, Golden State Wealth Management LLC raised its stake in shares of ConocoPhillips by 141.8% during the 1st quarter. Golden State Wealth Management LLC now owns 8,980 shares of the energy producer’s stock valued at $944,000 after purchasing an additional 5,266 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $90.88 on Friday. 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 firm has a market capitalization of $114.89 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The business’s 50-day moving average price is $89.93 and its 200-day moving average price is $95.15. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.43%. ConocoPhillips’s payout ratio is 39.64%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COP shares. Royal Bank Of Canada decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Piper Sandler decreased their target price on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Mizuho decreased their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Bank of America decreased their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.50.

ConocoPhillips 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.