ConocoPhillips (NYSE:COP) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 8.1% in the 4th quarter, Holdings Channel reports. The fund owned 5,053 shares of the energy producer’s stock after selling 444 shares during the period. Baxter Bros Inc.’s holdings in ConocoPhillips were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of COP. Capital Investment Counsel Inc acquired a new stake in ConocoPhillips during the third quarter valued at $228,000. Columbia Trust Co 01012016 grew its position in shares of ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the period. Raymond James & Associates increased its stake in shares of ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Syon Capital LLC acquired a new position in ConocoPhillips in the 3rd quarter worth about $2,262,000. Finally, PFG Investments LLC purchased a new position in ConocoPhillips during the third quarter worth approximately $233,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP traded down $0.02 during trading on Friday, hitting $122.23. 5,020,657 shares of the company were exchanged, compared to its average volume of 4,434,834. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.35. ConocoPhillips has a 12-month low of $95.81 and a 12-month high of $135.18. The company has a fifty day moving average price of $123.85 and a 200-day moving average price of $117.73. The firm has a market capitalization of $143.79 billion, a PE ratio of 13.84, a P/E/G ratio of 2.68 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the business posted $2.71 EPS. As a group, equities research analysts expect that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.55%. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Raymond James decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Barclays started coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. UBS Group raised their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Mizuho reiterated a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.76.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of 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. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 over the last quarter. 0.34% of the stock is owned by insiders.

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.