Lee Danner & Bass Inc. Sells 382 Shares of ConocoPhillips (NYSE:COP)

Lee Danner & Bass Inc. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,779 shares of the energy producer’s stock after selling 382 shares during the period. Lee Danner & Bass Inc.’s holdings in ConocoPhillips were worth $671,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COP. Alphinity Investment Management Pty Ltd bought a new stake in ConocoPhillips during the third quarter valued at about $310,102,000. Capital Wealth Planning LLC grew its holdings in ConocoPhillips by 45,426.8% during the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after purchasing an additional 1,425,946 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ConocoPhillips by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after acquiring an additional 1,152,907 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of ConocoPhillips by 13,905.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after acquiring an additional 1,106,305 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at about $99,676,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on COP. Piper Sandler boosted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Susquehanna boosted their price objective on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday. Morgan Stanley boosted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Wells Fargo & Company boosted their price objective on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, UBS Group boosted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.24.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 over the last ninety days. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP opened at $129.33 on Tuesday. The business’s 50 day moving average is $120.93 and its two-hundred day moving average is $117.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The stock has a market capitalization of $152.15 billion, a P/E ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, research analysts expect that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

About ConocoPhillips

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.