SageView Advisory Group LLC Boosts Stake in ConocoPhillips (NYSE:COP)

SageView Advisory Group LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 196.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,846 shares of the energy producer’s stock after acquiring an additional 6,525 shares during the quarter. SageView Advisory Group LLC’s holdings in ConocoPhillips were worth $1,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC purchased a new position in ConocoPhillips in the 4th quarter valued at about $27,000. Oliver Lagore Vanvalin Investment Group lifted its stake in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after buying an additional 111 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in ConocoPhillips in the 4th quarter valued at about $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on COP shares. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Mizuho increased their price objective on shares of ConocoPhillips from $139.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, May 13th. UBS Group increased their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Truist Financial cut their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.24.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 664,350 shares of company stock valued at $83,537,680 in the last 90 days. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 0.3 %

ConocoPhillips stock traded down $0.40 during trading on Friday, hitting $117.25. The company had a trading volume of 2,851,146 shares, compared to its average volume of 5,001,379. ConocoPhillips has a 1-year low of $98.38 and a 1-year high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The company’s 50 day simple moving average is $125.92 and its 200-day simple moving average is $117.75. The stock has a market cap of $137.13 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. As a group, analysts expect that ConocoPhillips will post 9.12 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.66%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.