ConocoPhillips (NYSE:COP) Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,631 shares of the energy producer’s stock after selling 466 shares during the period. Perpetual Ltd’s holdings in ConocoPhillips were worth $1,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First United Bank & Trust boosted its stake in shares of ConocoPhillips by 25.7% during the fourth quarter. First United Bank & Trust now owns 758 shares of the energy producer’s stock worth $75,000 after buying an additional 155 shares during the period. Charles Schwab Trust Co lifted its position in ConocoPhillips by 2.8% during the 4th quarter. Charles Schwab Trust Co now owns 9,059 shares of the energy producer’s stock worth $898,000 after acquiring an additional 248 shares during the period. Aspiriant LLC lifted its position in ConocoPhillips by 119.3% during the 4th quarter. Aspiriant LLC now owns 5,569 shares of the energy producer’s stock worth $552,000 after acquiring an additional 3,030 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of ConocoPhillips by 8.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 95,815 shares of the energy producer’s stock valued at $9,502,000 after purchasing an additional 7,366 shares during the period. Finally, Reliant Investment Management LLC raised its stake in shares of ConocoPhillips by 2.4% during the fourth quarter. Reliant Investment Management LLC now owns 55,121 shares of the energy producer’s stock worth $5,466,000 after purchasing an additional 1,270 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COP shares. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $136.00.

ConocoPhillips Stock Performance

NYSE:COP opened at $104.25 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $119.98 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The firm has a 50-day moving average price of $103.67 and a two-hundred day moving average price of $107.31. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. As a group, research analysts expect that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

ConocoPhillips Company 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.