Abbrea Capital LLC Sells 295 Shares of ConocoPhillips (NYSE:COP)

Abbrea Capital LLC lowered its holdings in ConocoPhillips (NYSE:COP) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,945 shares of the energy producer’s stock after selling 295 shares during the quarter. Abbrea Capital LLC’s holdings in ConocoPhillips were worth $1,386,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Syon Capital LLC raised its holdings in shares of ConocoPhillips by 38.5% in the 4th quarter. Syon Capital LLC now owns 26,139 shares of the energy producer’s stock valued at $3,034,000 after purchasing an additional 7,260 shares in the last quarter. Lyell Wealth Management LP raised its holdings in shares of ConocoPhillips by 2.9% in the 4th quarter. Lyell Wealth Management LP now owns 48,866 shares of the energy producer’s stock valued at $5,672,000 after purchasing an additional 1,383 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of ConocoPhillips by 3.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,701 shares of the energy producer’s stock worth $5,769,000 after buying an additional 1,452 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of ConocoPhillips by 5.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 60,910 shares of the energy producer’s stock worth $7,070,000 after buying an additional 3,240 shares during the last quarter. Finally, Magnolia Capital Advisors LLC grew its position in shares of ConocoPhillips by 26.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 2,900 shares of the energy producer’s stock worth $331,000 after buying an additional 599 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Raymond James dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Barclays began coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Trading Up 0.1 %

Shares of COP traded up $0.13 during mid-day trading on Friday, reaching $130.24. The stock had a trading volume of 4,822,930 shares, compared to its average volume of 5,349,431. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The business’s fifty day moving average is $122.10 and its 200 day moving average is $117.58. The firm has a market cap of $153.22 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.70 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed 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 was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction dated Tuesday, February 20th. The shares were 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 of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were 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 owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the 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 sale, 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 90 days. 0.34% of the stock is owned by company insiders.

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.