ConocoPhillips $COP Shares Sold by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co reduced its position in shares of ConocoPhillips (NYSE:COP) by 14.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,219 shares of the energy producer’s stock after selling 5,600 shares during the period. PKO Investment Management Joint Stock Co’s holdings in ConocoPhillips were worth $3,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TruWealth Advisors LLC increased its position in shares of ConocoPhillips by 8.9% during the second quarter. TruWealth Advisors LLC now owns 2,430 shares of the energy producer’s stock worth $218,000 after acquiring an additional 199 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in ConocoPhillips by 26.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,954 shares of the energy producer’s stock worth $714,000 after purchasing an additional 1,675 shares during the last quarter. Apella Capital LLC raised its position in shares of ConocoPhillips by 1.9% in the 2nd quarter. Apella Capital LLC now owns 7,707 shares of the energy producer’s stock valued at $713,000 after purchasing an additional 141 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $120,000. Finally, RMR Wealth Builders boosted its stake in shares of ConocoPhillips by 442.9% during the 2nd quarter. RMR Wealth Builders now owns 11,270 shares of the energy producer’s stock valued at $1,011,000 after buying an additional 9,194 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 2.1%

NYSE COP opened at $95.49 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. ConocoPhillips has a one year low of $79.88 and a one year high of $106.20. The company has a 50-day simple moving average of $91.74 and a 200-day simple moving average of $92.71. The firm has a market capitalization of $118.00 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.64 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter last year, the company posted $1.78 earnings per share. ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.84 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COP. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. Mizuho upped their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Piper Sandler decreased their price target on ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Sanford C. Bernstein lowered their price objective on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.92.

About ConocoPhillips

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.