Gamco Investors INC. ET AL Sells 6,575 Shares of ConocoPhillips $COP

Gamco Investors INC. ET AL decreased its position in shares of ConocoPhillips (NYSE:COP) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,287 shares of the energy producer’s stock after selling 6,575 shares during the period. Gamco Investors INC. ET AL’s holdings in ConocoPhillips were worth $4,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Capital International Investors raised its stake in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after acquiring an additional 7,037,873 shares during the period. Primecap Management Co. CA grew its holdings in shares of ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock valued at $979,102,000 after purchasing an additional 2,467,555 shares in the last quarter. Ameriprise Financial Inc. increased its position in ConocoPhillips by 20.6% during the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after acquiring an additional 2,216,010 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in ConocoPhillips during the third quarter valued at $135,265,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in ConocoPhillips by 255.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer’s stock valued at $173,853,000 after acquiring an additional 1,334,687 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Raymond James Financial boosted their price target on ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Jefferies Financial Group upped their target price on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday. Finally, Susquehanna upped their price objective on ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.12.

ConocoPhillips Stock Down 2.2%

Shares of NYSE:COP opened at $122.33 on Thursday. The business has a 50-day moving average price of $123.48 and a 200 day moving average price of $107.14. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $149.04 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.44 and a beta of 0.14. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the company earned $2.09 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 9.63 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales agreement tied to the Alaska LNG project, giving the company long-duration visibility on gas volumes and strengthening the investment case for its Alaska assets. ConocoPhillips Alaska LNG Deal Extends Gas Visibility And Valuation Debate
• Positive Sentiment: Reuters reported that delays in ConocoPhillips’ Qatar gas joint ventures are expected to be measured in months rather than years, which reduces concern around the timing of future LNG growth. ConocoPhillips expects Qatar gas JVs delays of months, not years
• Positive Sentiment: Analysts and screeners highlighted COP as a high-ROE name, a momentum stock, and a company with rising earnings estimates, all of which can support investor demand for the shares. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?
• Positive Sentiment: Jefferies reportedly set a new $161 price target for COP, reinforcing a constructive Wall Street view on the stock. ConocoPhillips Given New $161.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Several articles were more about COP’s standing versus peers or general broker sentiment, offering context but little immediate new catalyst. ConocoPhillips (COP) Is Considered a Good Investment by Brokers: Is That True? Occidental Petroleum Stock Is Up 45% This Year…
• Negative Sentiment: Despite the positive longer-term narrative, COP also tracked a broader market pullback and energy volatility, which may have contributed to the stock’s softer tone in the latest trading session. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump

Insiders Place Their Bets

In other news, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares in the company, valued at approximately $1,478,751.04. This trade represents a 53.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the sale, the senior vice president owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 734,891 shares of company stock worth $93,345,692. Corporate insiders own 0.09% of the company’s stock.

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.