ConocoPhillips (NYSE:COP) Holdings Lowered by Hi Line Capital Management LLC

Hi Line Capital Management LLC reduced its position in ConocoPhillips (NYSE:COP) by 8.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 129,301 shares of the energy producer’s stock after selling 12,161 shares during the period. ConocoPhillips accounts for approximately 5.8% of Hi Line Capital Management LLC’s portfolio, making the stock its 4th largest holding. Hi Line Capital Management LLC’s holdings in ConocoPhillips were worth $15,008,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms recently commented on COP. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Raymond James cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Scotiabank raised their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, UBS Group increased their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Five investment 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 stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $142.76.

ConocoPhillips Trading Down 0.0 %

NYSE COP opened at $123.05 on Thursday. The stock has a market cap of $143.91 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. ConocoPhillips has a fifty-two week low of $97.42 and a fifty-two week high of $135.18. The stock has a 50 day simple moving average of $124.31 and a two-hundred day simple moving average of $117.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping 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 business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the business earned $2.71 EPS. On average, analysts forecast that ConocoPhillips will post 9.1 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.54%. ConocoPhillips’s payout ratio is 26.27%.

Insiders Place Their Bets

In other news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’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 sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were 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 owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.34% of the company’s stock.

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.