ConocoPhillips $COP Stock Position Lowered by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in ConocoPhillips (NYSE:COP) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,135 shares of the energy producer’s stock after selling 7,655 shares during the quarter. Meyer Handelman Co.’s holdings in ConocoPhillips were worth $20,874,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in ConocoPhillips in the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.5%

NYSE COP opened at $106.33 on Friday. The firm’s 50 day moving average price is $117.55 and its two-hundred day moving average price is $111.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The stock has a market cap of $129.55 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.18 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. Equities analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Argus raised their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Roth Mkm upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $124.00 to $130.00 in a research report on Monday. Truist Financial set a $128.00 target price on ConocoPhillips in a report on Friday, May 1st. Capital One Financial reduced their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Finally, Jefferies Financial Group lifted their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $134.32.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Roth Capital upgraded ConocoPhillips to Buy from Neutral, which can support investor confidence in the stock. Roth Capital Upgrades ConocoPhillips (COP) to Buy. Here is Why
• Positive Sentiment: ConocoPhillips was named to RBC Capital’s June Global Energy Best Ideas list, reinforcing the view that analysts see upside potential in the name. ConocoPhillips (COP) Named to RBC Capital’s June Global Energy Best Ideas List
• Neutral Sentiment: The company announced it will host its second-quarter earnings conference call on Aug. 6, keeping attention on upcoming results and guidance. ConocoPhillips to hold second-quarter earnings conference call on Thursday, Aug. 6
• Negative Sentiment: Broader oil-and-gas shares fell after crude dropped to its lowest level since the start of the Iran conflict, as easing geopolitical risk and resumed tanker traffic pressured oil prices and upstream producers like COP. TechnipFMC and Valaris Shares Plummet, What You Need To Know

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Company Profile

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.