AMF Tjanstepension AB Sells 262,041 Shares of ConocoPhillips (NYSE:COP)

AMF Tjanstepension AB trimmed its stake in ConocoPhillips (NYSE:COP) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 901,683 shares of the energy producer’s stock after selling 262,041 shares during the period. AMF Tjanstepension AB owned about 0.08% of ConocoPhillips worth $89,497,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $2,504,000. Banco Santander S.A. grew its stake in ConocoPhillips by 90.9% during the fourth quarter. Banco Santander S.A. now owns 24,794 shares of the energy producer’s stock worth $2,459,000 after buying an additional 11,807 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ConocoPhillips by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,319,214 shares of the energy producer’s stock worth $130,826,000 after buying an additional 94,826 shares in the last quarter. Camden National Bank raised its stake in shares of ConocoPhillips by 20.1% in the fourth quarter. Camden National Bank now owns 2,869 shares of the energy producer’s stock valued at $285,000 after acquiring an additional 480 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of ConocoPhillips by 9.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,711,829 shares of the energy producer’s stock worth $182,197,000 after acquiring an additional 144,693 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 2.4 %

NYSE:COP opened at $90.70 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The stock’s fifty day simple moving average is $99.53 and its 200-day simple moving average is $104.38. The firm has a market capitalization of $115.40 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COP shares. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, UBS Group decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

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.