Weatherly Asset Management L. P. Sells 2,973 Shares of ConocoPhillips (NYSE:COP)

Weatherly Asset Management L. P. lessened its holdings in ConocoPhillips (NYSE:COP) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,098 shares of the energy producer’s stock after selling 2,973 shares during the quarter. Weatherly Asset Management L. P.’s holdings in ConocoPhillips were worth $6,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth $27,000. West Branch Capital LLC grew its stake in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group grew its stake in shares of ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after acquiring an additional 111 shares during the period. Spartan Planning & Wealth Management bought a new position in shares of ConocoPhillips during the 3rd quarter worth $40,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter worth $44,000. Institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the firm’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 value of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on COP. Scotiabank increased their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. UBS Group increased their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company increased their price objective on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Piper Sandler increased their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.50 during midday trading on Tuesday, reaching $129.83. 3,773,534 shares of the company’s stock traded hands, compared to its average volume of 5,397,009. The company has a market cap of $152.73 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The stock has a 50 day moving average of $120.93 and a 200 day moving average of $117.31.

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

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

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.