Carnegie Capital Asset Management LLC Sells 260 Shares of ConocoPhillips (NYSE:COP)

Carnegie Capital Asset Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,538 shares of the energy producer’s stock after selling 260 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in ConocoPhillips were worth $1,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after acquiring an additional 3,497,750 shares in the last quarter. Northern Trust Corp increased its holdings in ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after buying an additional 1,152,907 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after buying an additional 8,575,696 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.6 %

COP stock opened at $129.53 on Wednesday. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market cap of $152.38 billion, a P/E ratio of 14.30, a PEG ratio of 2.83 and a beta of 1.24. The business’s 50-day moving average price is $119.60 and its 200-day moving average price is $116.93.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm 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 earned $2.71 EPS. On average, equities research analysts forecast that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. ConocoPhillips’s payout ratio is currently 25.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. Morgan Stanley lifted 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. Truist Financial reduced their price objective on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Mizuho reiterated a “neutral” rating and issued a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Piper Sandler reduced their price objective on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Finally, Barclays began coverage on ConocoPhillips in a research note on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target for the company. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $140.59.

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.